Filing Information Returns for ISA Managers

If you need to make a return

You must return information to HMRC within 60 days of one of the following reporting dates:

• April 5th of each year (the return must therefore be made by June 4th)
• the date on which you cease to be considered or operate as an individual savings account (IS A) Manager

At the end of February of the tax year in which the tax return is due, HMRC will send you a reminder of your obligation to file a tax return for that tax year.

What period do you need to cover?

You must cover the later period from:

• Date of your approval to act as IS A Manager
• last reporting date

What you need to report when you return

You must report details of all of them Is as and Junior Is as You have managed during the return period, including:

• Is as opened with funds transferred from a maturing child trust fund (CTF) Account if the account holder has not given any instructions upon reaching the age of 18
• Is as transferred into it
• partially Is as transferred to (subscriptions of the current year)
• Is as which were closed

You should not provide any details Is as transferred in full within the return period, invalidated or not processed or canceled within 30 days of opening.

If an investor holds more than one IS A with you, then you will need to provide details of each individual report IS A separately.

If you have “current accounts” of deceased investors, you will still need to report them Is as Use of:

• Name and address of the deceased investor
• Date of birth of the deceased investor
• Social Security number of the deceased investor

For returns that include: Is as opened with funds due from a CTF (If the account holder has not provided instructions upon reaching the age of 18), you must include the following:

• unique reference number for the child trust fund
• Social Security Number

The return of IS A The information must contain a reference to the fact that the IS A Account represents a mature account CTF Account opened without instructions from the CTF Account owner. There are 2 IS A Types:

• IS A Type S is stocks and shares IS A with investments from a mature CTF Account
• IS A Type T is a cash IS A with cash from a due CTF Account

lifespan Is as

Lifetime must not be taken into account Is as to ISAComm100 return from IS A Account Information.

lifespan Is as are reported on Lifetime IS A Programming interface (API). The latest version of the Lifetime Allowance app technical specifications is available on the Developer Hub.

Further information on the content of the API Reports are available in Digital Reporting for Lifetime Is as.

How to return information

You can submit information returns about:

Returns must conform to the specifications and format described in this document. If your return does not meet this specification, it may be refused. In this case, it can be assumed that you either did not make a return or made an incorrect return.

HMRC table

Instead of creating a flat text file according to the IS A If you use the Electronic Flat Text File specification you can make a return in the HMRC table.

Conditional formatting

The spreadsheet template has conditional formatting that detects when specification requirements have not been met.

If you try to enter data in a protected field or use incorrect formatting, you will be alerted by a pop-up message or highlighted fields. Check the instructions and re-enter the data correctly. Do not submit the spreadsheet until the issues are resolved.

Conditional formatting does not verify the accuracy or suitability of the data you return. The return may still fail when processed by HMRC.

Filing returns

Details on how to file your return can be found in the notice we sent to you.

For simple inquiries you can email [email protected] e.g. E.g.:

• Check whether your return has been received
• Check whether your return was successful or not
• Change contact details

To request an additional subnumber, close an existing subnumber or have any questions about submitting your return, email: [email protected].

Punish

You may be fined under Schedule 23 of the Finance Act 2011 if you:

• fail to return information
• make an incorrect return