Guidance

Find out about returns of information for ISA managers

Use this guidance to find out what you need to provide and how to make a return of information.

The requirement to make a return

Managers are required to make a return of information to HMRC within 60 days of either of the following reporting dates:

  • 5 April of each year (returns will therefore need to be made by 4 June)
  • the date of ceasing to qualify, or act, as a manager

At the end of February of the tax year in which the return is due, HMRC will send managers a reminder of their obligations to make a return for that tax year.

What period must be covered

The information required is the later of the period from the:

  • the date the manager began to manage Individual Savings Accounts (ISAs)
  • the last reporting date

What must be returned

Managers must report details of all ISAs (and Junior ISAs) they managed during the return period, including:

  • ISAs opened with funds transferred from a matured Child Trust Fund (CTF) account when no instructions were given by the account holder when they reach age 18
  • ISAs transferred in
  • ISAs that have been closed

They should not include details of ISAs transferred out in full, made void, or not proceeded with or cancelled within 30 days of opening in the return period.

Where an investor holds more than one ISA with the same manager (for example, a cash ISA and a stocks and shares ISA), managers must report details of each ISA separately.

Since the period ending 5 April 2019

Managers with any ‘continuing accounts’ of deceased investors must continue to report these ISAs using:

  • name and address of the deceased investor
  • date of birth of the deceased investor
  • National Insurance number of the deceased investor

From the period ending 5 April 2021

Returns that include ISAs opened with matured funds from a CTF (when no instructions were given by the account holder when they become age 18) managers must include either:

  • the unique reference number for the child trust fund
  • the national insurance number (if available)

The return of ISA information must include an indicator that the ISA account represents a matured CTF account that was opened without instructions from the CTF account holder. There are 2 ISA types:

  • ISA Type S is a stocks and shares ISA with investments from a matured CTF account
  • ISA Type T is a cash ISA with cash from a matured CTF account

Lifetime ISAs

Lifetime ISAs must not be included on the ISAComm100 return of ISA account information.

Since the tax year 2018 to 2019, Lifetime ISAs are reported monthly to HMRC, covering day 6 of one month to day 5 of the next calendar month.

The reporting for Lifetime ISAs is completed on the Lifetime ISA Application Programming Interface (API). The latest version of the Lifetime Allowance App technical specifications is available on the developer hub.

More information on the content of the API reports is available indigital reporting for Lifetime ISAs.

How to make returns of Information

Returns of information can be submitted on either:

Returns must conform to the specification and format described in this document. Any return that does not conform to this specification may be rejected and, in which case the manager may be regarded as either having failed to make a return or as having made an incorrect return.

Returns for 2016 and earlier years must be submitted using the previous specifications.

If you need to submit a ISAComm100(OCS) ‘ISA annual return of information’ for an earlier tax year you should email: cni.enquiries@hmrc.gsi.gov.uk stating the year and whether you require a copy of the text specifications or spreadsheet (or both).

HMRC Spreadsheet

Instead of creating a flat text file in accordance with the ISA Electronic Flat Text File specification managers may make a return on the HMRC spreadsheet.

The spreadsheet:

  • is in Excel version 2003 (.xls) and cannot be converted to later versions of Excel (xlsx
  • can accept 65,536 rows of information
  • cannot convert to the later version of Excel (.xlsx)
  • does not check the accuracy or suitability of the data entered

To use the spreadsheet:

  • click on the link above to open the spreadsheet template
  • save the spreadsheet template to your computer
  • complete the spreadsheet following the guidance in the yellow comments boxes in the spreadsheet

Spreadsheet failures

The most common cause of spreadsheet failure has been the inclusion of excessive characters (including spaces).

The spreadsheet contains conditional formatting to check for simple errors such as excessive characters.

If a simple error is detected in a column the cell on row one will turn red and tell you the number of errors found in the column and the position of the first error. As errors are corrected this information will update.

Spreadsheets received with a red cell on row one will fail to process and the manager may be regarded as either having failed to make a return or as having made an incorrect return.

If you require a later version of the spreadsheet email: cni.enquiries@hmrc.gsi.gov.uk advising which spreadsheet you need.

Submission of returns

Details of how to submit your return will be contained in the notice we issued to you.

HMRC no longer issue labels or submission documents with the notice. Please ensure that any return on physical media is suitably labelled to identify the source of the data.

If you need a submission document to include with a submission on media a generic submission document can be downloaded from here.

You can email: tpi.c@hmrc.gsi.gov.uk for simple enquiries such as:

  • has my return been received
  • has my return passed or failed
  • changing contact details

To request an additional sub number, closure of an existing sub number or for questions about submitting your return please email: cni.enquiries@hmrc.gsi.gov.uk.

ISA managers who fail to submit their returns of information by 4 June may be charged a penalty. No claims for payment will be processed until the return is submitted (see basis of annual return and tax claims).

Penalties

Penalties may be charged on managers under Schedule 23 FA 2011.

Published 5 April 2018
Last updated 24 May 2018 + show all updates
  1. Sections under headings 'How to make returns of Information', 'HMRC Spreadsheet' and 'Submission of returns' have been updated. The 'Permitted media' section has been removed.

  2. First published.