Additional Permitted Subscription - Inherited cash ISA

dottysue99

My father died in February this year, leaving everything to my mother (they were married for over 70 years). His estate included a cash ISA with over £100,000 in it.  It was held with the Nationwide BS. My mother (age 92) attended the Building Society and advised that she wished to keep the money in a cash ISA.   She was told that this had to be done online rather than at the the premises.  She subsequently received a cheque payable to her for the full amount of the ISA and she has paid this into her bank account for the time being.  Can she still apply to the Nationwide for an APS certificate and put the money into another institution as she doesn't want to fall foul of the £85,000 protection? We now obtained a Grant of Probate and understand that the time limit is 3 years from the date of death.

xylophone

Your mother inherited the ISA money but it wouldn't matter if she had not - she would still have the entitlement to the additional allowance.

https://www.gov.uk/guidance/manage-additional-permitted-subscriptions-into-an-isa


https://www.ybs.co.uk/savings/guides/what-is-isa-additional-permitted-subscriptions

Transferring an extra ISA allowance to us

If your spouse or civil partner had an ISA with another ISA provider, you can transfer your extra ISA allowance to us. You can transfer it to an existing YBS ISA or open a new one.

How to apply

You can apply for APS on the phone or in branch. Before you apply, you'll need to register the death and the deceased's ISA must be closed.

Perhaps above would suit? You/your mother could give them a ring?

dottysue99

That's realty helpful.  Thank you.