SubmittingFind out about returns of information for ISA managers

WhenThe yourequirement need to make a return

YouManagers mustare 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 youof ceaseceasing to qualify, or act, as ana Individual Savings Account (ISA) manager

At the end of February of the tax year in which the return is due, HMRC will send youmanagers a reminder of yourtheir obligationobligations to make a return for that tax year.

What period youmust needbe to covercovered

YouThe mustinformation coverrequired is the later of the period from the:

• date of yourIndividual approvalSavings toAccount act as an (ISA) manager approval
• last reporting date

What you must reportbe on your returnreturned

YouManagers must report details of all ISAs and(and Junior ISAs) youthey 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
• partial ISAs transferred in (current year subscriptions)
• ISAs that have been closed

YouThey 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.

IfWhere an investor holds more than one ISA with you,the thensame youmanager (for example, a cash ISA and a stocks and shares ISA), managers must report details of each ISA separately.

If

Since youthe haveperiod ending 5 April 2019

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

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

For

From returnsthe 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),18) youmanagers must include either the:

• unique reference number for the child trust fund
• 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

YouLifetime ISAs must not includebe Lifetimeincluded ISAs 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 in digital reporting for Lifetime ISAs.

How to make returns of Information

YouReturns canof submitinformation returnscan ofbe informationsubmitted on either the:

• ISA electronic flat text specification
• HMRC spreadsheet

Returns must conform to the specification and format described in this document. IfAny your return that does not conform to this specification,specification it may be rejected.rejected Inand, thisin case,which youcase 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: DA.Enquiries@hmrc.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,specification youmanagers may make a return on the HMRC spreadsheet.

Conditional formatting

The spreadsheet template has conditional formatting that detects when specification requirements have not been met.

If you try to enter data in a protected field or use the wrong formatting, a pop-up message or highlighted fields will alert you of this. Refer to the guidance and re-enter the data correctly. Do not submit the spreadsheet until the issues are fixed.

The conditional formatting does not check the accuracy or suitability of the data you’re returning. The return may still fail when processed by HMRC.

Submission of returns

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

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

• checking if your return been received
• checking if your 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, email: DA.Enquiries@hmrc.gov.uk.

Penalties

YouISA managers who fail to submit their returns of information by 4 June may be givencharged a penaltypenalty. underNo Scheduleclaims 23for ofpayment will be processed until the Financereturn Actis 2011submitted if(see you:basis of annual return and tax claims).

• fail

  Penalties

  Penalties tomay makebe acharged returnon ofmanagers information

• makeunder anSchedule incorrect23 return

FA 2011.