APS inherited ISA

evergreen

My husband passed away a few months ago and from what I can see I can use his ISA allowances, even though his accounts have been closed now that probate has come through. The rates for these acconts that are special APS Accounts don't seem very good. Once I open them do I have to only ever use that kind of account or can I transfer the money to an ordinary isa next year? Would really appreciate any information on this. Thanks.

eskbanker

Worth reading through the rules at https://www.gov.uk/guidance/manage-additional-permitted-subscriptions-into-an-isa, which include:

Once an additional permitted subscription has been made, a surviving spouse can transfer their savings under the normal ISA rules, with the additional permitted subscriptions being treated as previous years' subscriptions (see annual payment limit for Lifetime ISA and transferring an ISA). Any further subscriptions counting towards the additional permitted subscription limit must continue be made with the manager who held the deceased's ISA or the manager selected by the spouse.

Additional permitted subscriptions are treated as previous year ISA subscriptions for all other ISA purposes but in respect of an additional permitted subscription into a Lifetime ISA, the subscription counts towards the annual payment limit for Lifetime ISA.

evergreen

Thank you eskbanker. I didn't realise I could transfer it to a normal ISA with another provider withinin the year the APS ISA is opened.