Terms and Conditions for Inscape TESSA-only ISA (TOISA)

Introduction
These terms and conditions set out the contract between you and us, Inscape Investments Limited ('Inscape'). They explain our obligations to you, and your obligations to us, when you hold an Inscape TOISA. Your TOISA deposits will be held in an account with Abbey National plc and any reference to 'we' and 'us' here includes Abbey National, as appropriate.

Your ISA Manager for the TOISA will be Inscape Investments Limited and your deposit account is provided by Abbey National plc.

1 Eligibility
To qualify for the Inscape TOISA you must:
(i) Be an account holder with Inscape's Investment Management Service
(ii) Have a maturing first edition or follow-on TESSA or existing TOISA
(iii) Invest in the Inscape TOISA within 6 months of your TESSA maturing.

2 Appointment
We agree to act as your TOISA manager and give you advice on it as part of the Inscape Investment Service.

3 Starting Your TOISA
Your TOISA will begin as soon as we accept your application and receive your payment. If we do not accept your application we will return your payment. If this is your first TOISA, you will need your TESSA maturity certificate to open an Inscape TOISA.

4 Paying Into Your TOISA
Your TOISA deposits must come from either the capital invested in your TESSA (up to a maximum of £9,000) which must be invested in your TOISA within 6 months of your TESSA maturing, or from an existing TOISA. In the case of a maturing TESSA, the full amount does not have to be invested at once.

5 Interest on Your TOISA
Details of the interest rate you will receive on your TOISA will be given to you before you invest. Interest will be calculated daily and paid annually.

We may vary the interest rate of your TOISA at any time on giving you notice in writing. If, within 30 days of receiving the notice, you inform us that you do not accept the change and instruct us to close your TOISA or to transfer it to another ISA manager (see Condition 11), the interest rate change mentioned in the notice will cease to have effect and we will pay you any interest you have lost by reason of the change to the date of closure or transfer of the TOISA.

If you close your TOISA or transfer it to another ISA manager as described above it will be without loss of any credit interest up to the point of closure.

Tax will be paid on any interest earned from the day you die.

6 Tax
You do not have to pay tax on your TOISA as long as we and you keep to the ISA regulations. The favourable tax treatment of TOISAs may change in the future.

7 Withdrawing Money From Your TOISA
You can write to us or phone us at any time to cash in some or all of your money in your TOISA. There will be no charge for withdrawals which will be made directly into your Fast Access Account.

8 Statements
We will send you a statement showing the value of your TOISA and details of any transactions you have made.

9 Owning The Cash In Your TOISA
You own the cash in your TOISA. You are not allowed to transfer your rights to the cash to anyone else. Our relationship is with you and we will not recognize the interest or claim of anyone else, unless by law we have to. For example, this means you cannot use the money in your TOISA as security for any borrowing or other money you owe. However we will pay the money to your personal representatives in the event of your death (see paragraph 14).

10 Transactions
We may refuse to carry out or allow any transactions on your TOISA if we are not reasonably satisfied that: it is legal; it is allowed by ISA regulations; or that it is you who has asked for or authorised it.

11 Transferring Your TOISA to or from Another ISA Manager
Any transfer will depend on the other ISA manager agreeing. We will pay the proceeds to the other provider or accept it on the date we, you and they agree on. The transfer will also depend on ISA regulations which, for example, do not allow you to partly transfer payments made during the same tax year as the transfer.

12 Closing Your TOISA
We can give you 3 months' written notice if we plan to stop managing your TOISA because:
(i) we decide in good faith that it is no longer reasonably practical for us to keep to the ISA regulations, or
(ii) we decide that managing the type of TOISA which you hold has stopped being commercially worthwhile for us.


During the period of notice you can transfer your TOISA to another TOISA manager. If you do not transfer your TOISA during this period we may close your TOISA.

We may close your TOISA if you withdraw all your funds from it.

If we discover that your TOISA has or will breach Inland Revenue regulations, we will give you written notice of this straight away, and we will have to close your TOISA. We are entitled to take cash from your TOISA to pay any tax or other amount required by the Inland Revenue.

If we close your TOISA we must follow the ISA regulations. We will not be liable to you for any loss, liability or damage that you suffer as a result of closing the TOISA. We will give you all relevant information and certificates that relate to tax which you may need under the ISA regulations.

Except for any amount we have to take from your TOISA if it breaches Inland Revenue regulations, we will pay the proceeds of your closed TOISA to you.

13 Cancellation Rights
When you first apply for your TOISA, you can cancel it by writing to us within 14 days of making your first payment. We will return your money in full.

14 Dealing With Your Representatives
Your TOISA will cease to qualify for tax exemption under ISA regulations from the day you die. If you die we will pay the money in your TOISA to your personal representatives. They must first prove to us that they have authority to receive the money.

15 Changes to the Terms and Conditions
We may remove, change or add to these terms and conditions by giving you at least 30 days' written notice of any changes to:
(i) conform with or anticipate any changes in the law, codes of practice or regulations;
(ii) provide for the introduction of new or improved systems, methods of operation, services or facilities by us;
(iii) take account of a ruling or guidance by a Court, Ombudsman, Regulator or similar body;
(iv) reflect market conditions;
(v) reflect general banking practice;
(vi) make them clearer or more favourable to you;
(vii) rectify any mistake that might be discovered.


If we give you notice to remove, change or add to these terms and conditions, you can close your TOISA or transfer it to another ISA manager (see Condition 11) without incurring any charge by giving us written notice within 30 days of receipt of our notice.

16 Complaints
If you have a complaint, please write to Inscape's Head of Client Relationship Support and Development at 7 Hanover Square, London W1S 1HQ. You have the right to complain directly to the Banking Ombudsman and we can provide you with the address if necessary.

17 Inability to Provide Services
If we are unable to provide services to you because of any causes beyond our control (including strikes, industrial action or the failure of equipment or power supplies), we will not be liable to you for any loss which you may suffer.

18 Your Statutory Rights and Other Conditions
Nothing in these terms and conditions will affect your statutory rights. These terms and conditions are also in addition to any other conditions which are implied or included in your contract with us by law, even if they do not appear expressly in these terms and conditions.

19 Governing Law
This agreement is governed by the law of the jurisdiction within the United Kingdom where you lived when you opened your TOISA.

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