Can I transfer the APS Allowance to an ISA provider of my choice?

The APS allowance can be applied to an ISA manager of the spouse/civil partner’s choice, even if the deceased held the ISA elsewhere. This is purely a transfer of the ‘allowance that was used’ not the actual cash or holdings. You can transfer-in the APS allowance to us as long as an existing subscription has not been made under the APS Allowance, and this can be done by completing and returning the APS Transfer-In Authority. Once transferred, further subscriptions can only be made in cash. Please note this transfer can only be done once.

Alternatively, you can transfer-out the APS allowance to a provider of your choice (e.g. you may want to transfer the allowance to a broker you already use). If so, you will need to initiate this request with the new provider by completing their equivalent APS Transfer forms.

Following the subscription to an APS Allowance, if you wish to transfer the Shares ISA to a new broker, please note, that any unused allowance with the existing ISA manager cannot be transferred and will be lost if not used.

All forms relating to an APS Transfer-In can be found on the 'Forms' section of the website.

- Submitted on 2nd Mar 2020

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