Inheritance ISA

When your spouse or civil partner dies, you may be able to save up to the value of the deceased’s ISA/ISAs. This could be the value at their date of death or when the ISA wrapper is removed. This is called an Additional Permitted Subscription (APS) allowance and is on top of your normal annual ISA allowance. 

Account name

Inheritance ISA

What is the interest rate?

AER/tax-free (variable)

• We work out the interest we’ll pay on the account each day.
• We pay interest into the account once a year in March.

Can Santander change the interest rate?

Yes, we can change the interest rate on this account as explained in the general terms.

What would the estimated balance be after 12 months based on a £1,000 deposit?

To work out the estimated balance, we’ve assumed that: 

• The account is opened and the initial payment into the account is made on first day of the month.
• You don’t pay in any more money or take any out.
• There is no change to the interest rate.

These illustrations are only examples and don’t take into account individual circumstances.

How do I open and manage my account?

Eligibility

You can open this cash ISA to use an Additional Permitted Subscription (APS) if you’re 18 or over and a UK resident. You can only open this account in your sole name – joint ISAs are not allowed. You can only have one of these accounts. An APS is an additional ISA allowance above the normal ISA allowance which you can use if:

• your spouse or civil partner died, and
• you were living with them at the time of their death, you weren’t legally separated, or you weren’t separated in circumstances where the separation was likely to become permanent.

Where the deceased held ISAs with a number of different providers, you’ll have APS allowances with each provider.

How to open the account

You can apply for this account at a branch.

If your deceased spouse had an ISA with another ISA provider, you’ll have to complete an APS transfer form to transfer in the additional allowance from that provider. You can only do that if you haven’t already made an APS deposit with that provider.

Managing the account 

You can only manage your account at a branch.

Paying money in 

You can pay money in at a branch or by post and must be accompanied by a completed APS Additional Permitted Subscription Eligibility Declaration Form. You can’t transfer in any existing ISA funds.

• Minimum balance: None.
• Maximum balance: How much you can save depends on the date of the deceased ISA holder’s death.

If the date of death was on or before 5 April 2018, you can save the value of the deceased’s ISA savings at the date of their death.
If the date of death was on or after 6 April 2018, you can save whichever value is higher:

• The deceased’s ISA savings at the date of their death, or
• The deceased’s ISA savings at the point the ISA wrapper is removed (this happens on the earliest of the completion of the administration of the estate, the closure of the ISA or the third anniversary of the death).

But if you have used any of your APS allowance before the wrapper is removed, you’ll no longer be able to benefit from a higher allowance at the point the wrapper is removed. 

To use this account, you must pay in any APS deposits within:

• 3 years of the date of the death, or
• 180 days of completion of the administration of the estate, whichever date is later.

Once you’ve made an APS deposit to this cash ISA, you can’t transfer any unused APS allowance to another ISA provider. But, if the deceased held ISAs with a number of different providers, you’ll have APS allowances with each provider.

Can I withdraw money?

Yes, you can take money out of your account in a branch.

This ISA is not flexible. That means that if you take money out of this cash ISA, it’ll lose its tax-free status. If you pay it back in again, it’ll count towards your APS allowance. But if you pay it into another ISA, not as an APS deposit, it will count towards your current tax year’s ISA limit.

You can also transfer your cash ISA (in full or in part) to another Santander cash ISA or to another provider by contacting the new ISA provider.

Additional information

Subject to availability and may be withdrawn without notice. Rates and information correct as at 11 May 2026.

Tell us if you change your mind

You can cancel your account at any time during your ‘cancellation period’ – we won’t charge you for it. This is 14 days, starting the day after we confirmed your account is open.

If you do this, we’ll return your money together with any interest we owe you. We’ll do this as soon as we can (and within 30 days from when you tell us). 

It isn’t possible to cancel a transfer of an APS once the transfer process is completed. 
You can also close your account at any other time outside this cancellation period – we won’t charge you.

Tax status

An ISA allows you to earn interest on your savings without paying tax. That means any interest you receive won’t contribute towards your Personal Savings Allowance. 

ISAs are subject to the Individual Savings Account Regulations 1998 and other government rules. If you don’t follow those rules, your ISA might become ‘void’ and you may need to pay tax on interest paid.

How we manage scam claims

We’ll support you if you’ve fallen victim to fraud. Find out more about our approach to fraud.

How much is my APS allowance?Ìý

Your APS allowance is whichever is the highest of:

• the value of the ISA at the date of their death, orÌý
• the value of the ISA on the date it stopped being a ‘continuing account of a deceased investor’

Ìý

The ‘continuing account of a deceased investor’ means the ISA in question remains open and earning interest, tax free. This stays in place until:

• the administration of the estate is complete, orÌý
• the ISA is closed, or
• it’s been 3 years since your spouse or civil partner died.
  Whichever happens first. Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
  Ìý

Is there a time limit for using my APS allowance?

Yes. For cash subscriptions, you can use your APS allowance for:

• up to 3 years from the day your spouse or civil partner died, or
• up to 180 days of the completion of the administration of the ‘estate’, whichever is later.

Ìý

What happens if your spouse or civil partner had more than one ISA?

If they had ISAs with several different providers, you’re entitled to a separate APS allowance from each provider. If you’d prefer, you can instead move those multiple APS allowances to a single ISA provider, who can merge them into one combined APS allowance.

Ìý

Does my APS allowance form part of my current year's ISA allowance?

No. Your APS allowance is separate from your annual ISA allowance.Ìý
You can find more information about ISA allowances in our ISA guide.

Ìý

Do I need to use the same ISA provider for my APS allowance?

Where an APS is made, any further payments up to the limit must be made with the same manager. Not all ISA managers accept APS payments.
The spouse or civil partner can also transfer their APS limit to another ISA provider by contacting their chosen ISA manager who will arrange the transfer of the limit on their behalf.

Ìý

What happens if my spouse or civil partner leaves their ISA Ìýsavings to someone other than me?Ìý

You'll still be entitled to an APS allowance because it’s calculated on the amount your spouse or civil partner has built up in tax-free entitlements, regardless of whether or not you’ve inherited their savings (ISA funds). You don't have to use money from their ISA to save up to your APS allowance, it can come from elsewhere.

Transferring an APS allowance from an external provider

You must complete the APS transfer form and have an open Inheritance ISA.Ìý
Inheritance ISA transfer form (PDF - 121 KB)

If your deceased spouse had an ISA with another provider you can transfer in the additional allowance from that provider. If you’ve already made an APS subscription with that provider you will then not be able to transfer the remaining APS allowance to another ISA provider. The account doesn’t accept the transfer in of existing ISA funds held with other ISA managers.

Once you’ve funded this cash ISA, you can transfer the funds held in this cash ISA, in full or part, both to another Santander cash ISA and also to another ISA provider. If you wish to transfer out funds held in your cash ISA please contact your new ISA provider who will arrange the transfer for you. Any funds paid into this cash ISA in this tax year will not count towards your current tax year limit if transferred to another ISA.

Ìý

Deposits

You can make deposits into your Inheritance ISA in our branches or by post.

You’ll need to fill in an Additional Permitted Subscriptions eligibility declaration form (PDF - 71 KB)

The address for postal deposits is:

ISA Team
Santander ISA Operations,
Sunderland, SR43 4FR
Ìý

Withdrawals

To keep your money tax-free when transferring between ISAs, you must arrange it as an ISA transfer. If you withdraw money from your ISA it will lose its tax-free status and if you pay it back into an ISA, this will count towards your allowance for the current tax year.

Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

• Inheritance ISA Key Facts Document (PDF - 551 KB)
• General Terms & Conditions (PDF - 770 KB)

Ìý

To view these documents, you may need toÌý

Statements and other information

We’ll send you a certificate or email confirmation after you’ve opened the account.

• We'll send your documents, statements and some of your letters as e-Documents. We'll add them to your mailbox in Mobile Banking. In Online Banking, you can find them in your 'Statements and documents’.
• You'll need to provide us with a valid email address, so we can let you know when we've sent you an e-Document. It’s important you tell us if your email address changes. You can change your details in Mobile and Online Banking.
• The easiest way to update your paper-free preferences is in Mobile and Online Banking. You can also contact us or visit your local .
• You can order a paper copy of a statement in Chat, by phone or in branch. You can also ask for your statements in an alternative format, such as braille.
• We’ll send you a statement once a year.
• The favourable tax treatment of ISAs may change in the future and is subject to individual circumstances.