One of the issues that proves difficult for executors of deceased persons who have Individual Savings Accounts (ISAs) is that the interest on them is taxable once the owner has died.

Many of these accounts are small and, given that interest rates have been very low for years, the effort associated with the necessary tax compliance is disproportionate. The Government has recognised this and a statutory instrument, the Individual Savings Account (Amendment No. 3) Regulations 2017, has now been enacted which exempts ISAs from Income Tax for deaths after 5 April 2018.