What is the APS allowance?

The Additional Permitted Subscription (APS), or sometimes referred to as an Inherited ISA allowance, was introduced by HM Revenue & Customs on 6 April 2015 as a new way for the ISA allowance of a deceased customer (based on the value of the deceased’s ISA at the time of death) to be passed over to their spouse/civil partner, on request. This change was introduced to benefit the spouse/civil partner, enabling them to utilise an allowance that would previously have been lost and is independent, and in addition, to their own personal annual ISA allowance.

- Submitted on 29th Feb 2020

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