No, you can’t nominate a beneficiary for a Stocks and Shares ISA. If you want to leave the savings you hold in an ISA to a loved one you can usually do so in your will.
Normally, when you leave your ISA to someone in your will they benefit from the underlying ISA investments you've built up over your lifetime but not the ISA allowance. This means they may have to pay tax on their investment returns.
However, your spouse or civil partner may be entitled to the ISA allowance you’ve built up during your lifetime. This is a valuable tax benefit known as ‘additional permitted subscriptions’.
It’s important to note your spouse or civil partner can still benefit from your allowance even if the underlying ISA investments are inherited by someone else. The only difference is your spouse or civil partner would need to make the payments out of their own money. You can learn more about this on the HMRC website.
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