Revenue to update Isa access rules

The Inland Revenue is to update its rules on how much access investors should be allowed to their Is...

The Inland Revenue is to update its rules on how much access investors should be allowed to their Isas. Its decision follows concern that many Isas offered by banks and building societies contravene rules on investor access as many have lock-in periods or restrictions on withdrawals. The Revenue believes investors should be allowed to transfer or withdraw assets from an Isa at any time, although this does not mean a penalty cannot be charged.