New APS rules allow the APS value to reflect either the balance as at the date of death or the earlier of one of the following events:
- completion of estate administration
- account closure
- three years from the date of death
Where multiple ISAs are held with the same ISA provider, the same date must be used for the calculation of the APS; it can't be calculated on a combination of the balance at the date of death for some ISAs and the balance at the time of the three events listed above for others.
You can choose which date to use for the calculation of the APS. If you choose the balance as at the date, you cannot later ask for the APS to be calculated on one of the three events above.
If your spouse/civil partner died between 3 December 2014 and 5 April 2018, your APS allowance will be their ISA balance at the date of their death.