Policy paper

Individual Savings Accounts (ISAs) compliance package

The measure introduces a modern, fair and effective Individual Savings Account (ISA) compliance framework that supports digital reporting and makes sure the ISA system operates as intended.

• From: HM Revenue & Customs
• Published: 13 July 2026

Documents

Individual Savings Accounts (ISAs) — introduction of a compliance package to improve Individual Savings Account (ISA) compliance and support the digitalisation of ISA reporting

HTML

Draft legislation

PDF, 74.2 KB, 2 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Draft legislation (accessible version)

HTML

Explanatory note

ODT, 12.2 KB

This file is in an OpenDocument format

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

This measure introduces a clearer framework for Individual Savings Account (ISA) providers. It supports accurate and timely digital reporting and uses a fair and proportionate approach to compliance.

ISA managers will need to submit monthly and annual returns digitally. These returns will be subject to the points-based penalty regime. HMRC will be able to apply new sanctions where ISA returns contain inaccuracies.

HMRC will  be able to suspend ISA managers where withdrawal of approval is not appropriate.   

ISA regulations will be updated to allow HMRC to collect an amount representing tax and apply a penalty based on the nature and scope of the ISA compliance failure.   

This measure will take effect from April 2028. The ability to suspend an ISA manager approval will take effect from April 2027, in line with the introduction of the new cash ISA limit.

Published 13 July 2026