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Can I buy an ISA for another family member?

An ISA is an individual allowance and generally the individual must pay for it themselves. However, it is possible for a third party to gift money to the ISA applicant.

We would require a completed ISA application form signed by the applicant and a cheque with a letter from the third party. We would also need the dates of birth and all addresses where any parties have lived over the last two years.

The letter must state that the third party is gifting this money to the ISA applicant for the purpose of this investment and that upon investment they will have no further claim to the money.

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