Inheritance ISA

Additional permitted subscriptions allow a surviving spouse or civil partner to receive an inherited ISA allowance

The Inheritance ISA comes with

Account details

Account name

Inheritance ISA


What is the interest rate?

TierAER/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?

BalanceInterest earnedBalance after 12 months

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?


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 earlier 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 or you transfer the allowance to another provider 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, any further APS deposits towards the particular APS allowance you have with us must be made into 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

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.

Statements and other information

We’ll send you a statement once a year in March.

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

The favourable tax treatment of ISAs may change in the future and is subject to individual circumstances.

Subject to availability and may be withdrawn without notice. Rates and information correct as at 6 April 2024. 

Transferring an APS allowance from an external provider

You must complete the APS transfer form and have an open Inheritance ISA. 
Inheritance ISA transfer form (pdf) (1.19 MB)

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.



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) (1.01 MB)

The address for postal deposits is:

ISA Team
Santander ISA Operations,
Sunderland, SR43 4FR


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. 


Key documents 

To view these documents, you may need to download Adobe Reader

This account also comes with

Access to the Santander branch network

Telephone Banking

Moneynet award for best high street cash ISA provider 2024