Savings

The following terms and conditions are set out by HM Revenue & Customs for Cash ISAs in general and are in addition to the terms and conditions for our Cash ISAs.

Both sets of terms and conditions can be found on the relevant product 'How to Apply' pages online and also within our product leaflets which are available from any of our branches.

1. An ISA may be held by any individual aged 18 or over (16 for Cash ISAs). The individual must be resident and ordinarily resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or be married to, or in civil partnership with, a person who performs such duties.
2. Your Cash ISA must be held in an individual’s sole name. Joint accounts are not allowed.
3. You must not have and must not subscribe to another Cash ISA in the same tax year.
4. Your Cash ISA may not be held on behalf of an individual other than you.
5. ISA investments will be and must remain in the beneficial ownership of the investor and must not be used as security for a loan.
6. Interest and bonus will be exempt from UK Income Tax providing all the ISA Terms and Conditions have been fully met.
7. Subscriptions only count toward the subscription limits for the tax year in which they are received by ISA managers. Where an investor does not subscribe to the maximum in any tax year, the balance cannot be made up in any other tax year.
8. Withdrawals have no effect on the subscription limits. Once the limit has been reached for the tax year, investors may make no further subscriptions, regardless of withdrawals.
9. In the event of your death, gross interest will be paid up to and including the date of death.
Thereafter, interest will be subject to UK Income Tax.
10. ISA holders have the right on request to withdraw from their ISA or transfer from Britannia to another eligible ISA manager, subject to the Terms and Conditions of the Account regarding partial withdrawals/transfers and regarding loss of interest, if applicable. The ISA Holder can choose the date funds are withdrawn or transferred subject to Britannia being allowed a reasonable period not exceeding 30 days to implement the withdrawal or transfer.
11. Britannia must notify you if by reason of any failure to satisfy the ISA Regulations, an ISA has, or will, become void.
12. All information will be treated in strictest confidence, however, Britannia is obliged by law to return information on ISA holders to the HM Revenue & Customs.
13. The date of your Cash ISA opening is the date that we accept your correctly completed signed Application Form and receive payment.
14. Favourable tax treatment may not be maintained in the future.