Row over holding fractional shares in tax-free accounts intensifies ahead of Autumn Statement
This article is the latest part of the FT’s Financial Literacy and Inclusion Campaign Tens of thousands of young UK investors could be forced to sell their holdings as a dispute between the tax authority and brokerage platforms threatens to undermine the government’s shake-up of tax-free Individual Savings Accounts.
” If HMRC prevails, investors will be forced to sell down any fractional holdings within Isas, and could be required to pay tax on gains and face penalties for late payment. HMRC, a non-ministerial government department, said: “Our longstanding view is that a fraction of a share cannot be held in an Isa. When an Isa manager allows investment in non-qualifying assets, we would seek to recover any tax loss from the Isa manager rather than the investor where possible.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
HMRC issues Halloween reminder that could provide an extra £4,000A Tax-free Childcare account only takes 20 minutes to open and could save families a lot of money for childcare needs
Weiterlesen »
HMRC tax agent defrauded Nottingham victims as he stole £750,000Robin Moss, also an internationally-ranked chess player, was sentenced to 10 years in jail
Weiterlesen »
HMRC urging mums and dads to claim extra £2,000Working families can claim an additional £2,000 per child each year
Weiterlesen »
Older people urged to look out for HMRC letter that could be worth around £5,000Letters about potential State Pension underpayments are being sent out this month from HMRC.
Weiterlesen »
HMRC giving £2,000 handout to people born in these yearsThe government provides an initial deposit of at least £250
Weiterlesen »
HMRC urges people born in certain years to claim sum worth £2,000HM Revenue and Customs has said around 430,000 young adults could be set for a windfall
Weiterlesen »