We calculate the interest daily and pay it annually, at the end of 31 March.

Interest can be added to the account or paid into another suitable account.

The interest rate is variable, so it can go up or down at any time.

For more details about why we may change the rate, as well as how and when we’ll let you know, see our Saving Accounts Terms and Conditions booklet (section 4).

£1,027.00

This would be the balance after 12 months if £1,000 was paid in, all interest was paid back to the account annually, there was no change to the interest rate and no money was taken out or paid in.

This illustration is just an example to help you compare accounts. It does not take into account any individual circumstances.

Eligibility

This ISA is for the additional allowance you've gained because your deceased spouse or civil partner held ISA savings with us.

• You must have been living with your spouse or civil partner at the time of their death
• You must be at least 18 years old and a UK resident.

How to apply for this account

To apply the account you must request an application pack and return it to us by post.

You can order an application pack:

• Online
• By calling us on 0800 121 8899.

How to keep track of your account
We’ll post you a statement within a month of any money leaving your account (but we won’t send more than one a month).

How to put money in

You’ll need to fill in an Additional Allowance ISA paying-in form every time you put money in.

• Pay in cheques by post.
• Write to us to arrange a transfer from another Coventry Building Society account. With our Additional Allowance ISA, it’s not possible to transfer in any allowance you have from another bank or building society.
• All money must be paid in within either three years from the date your spouse or civil partner passed away, or 180 days after administration of the estate is completed, whichever is later. (If your spouse or civil partner died between 3 December 2014 and 5 April 2015, the three years started on 6 April 2015).
• All money paid in is treated as previous years’ ISA subscriptions for all ISA purposes.
• You can’t transfer in previous years’ ISA savings or any of your personal ISA allowance.

How to manage

• By post
• The minimum balance is £1.

The amount you can save in your Additional Allowance ISA depends on the date your partner passed away and the amount of ISA savings they held with us. If your partner passed away between 3 December 2014 and 5 April 2018, the amount you can pay into your Additional Allowance ISA is equal to the amount of ISA savings your partner held with us, plus any interest earned at the date of their death. If your partner passed away on or after 6 April 2018, the amount you can pay into your Additional Allowance ISA is based on the amount of ISA savings they held with us. This can be the highest amount at either:

• the date of their death, or
• the date their ISAs with us are closed, the date of the administration of their estate is complete or on the third anniversary of their death, whichever is earliest.
  

Your subscription limit is determined at the time you open your ISA and can’t be changed.

Your additional allowance doesn’t affect your annual ISA allowance.

This is an easy access ISA, so you can take money out at any time. It is not a flexible ISA.

How to take money out

• Arrange an ISA Transfer to another provider, without losing the tax-free status of your savings; contact them to arrange this.
• To transfer ISA funds to another Coventry Building Society ISA, without losing the tax-free status of your savings, go online, call us or pop into a branch.
• Request cheques by post.

Additional Allowance ISA is not a flexible ISA

If you change your mind, you have a 14-day cancellation period after you make your first payment into a Additional Allowance ISA. Day 1 starts from the day you make your first payment into the account, so if you did this on the first of the month, your cancellation period would finish on the 15th day of the month. If you wish, you may change your mind and close the ISA within 14 days and it will be treated as if you never had the ISA, so you’d still be able to pay some/all of your annual ISA allowance into another cash ISA in this tax year. 

^Interest on ISAs is paid tax-free, that is gross with no tax deducted. ISAs are a savings scheme initiated by the Government and are subject to change by them. For example the favourable tax treatment may not be maintained.

*AER stands for Annual Equivalent Rate and shows what the interest rate would be if it was paid and added each year.