Tax on UK ISA!

#investing #ISA #pensioncraft

[MultiformeIngegno]

It’s so stupid. Hope they legally challenge HMRC

[syklon]

Whole shares are a fractional instrument of ownership to an entity. Shh everybody, don't tell them, it may be a total shocker for the HMRC who think that whole shares are dollars but cents are little circulated art pieces.

[MATIvmr]

There’s no official statement as of yet. It’s been going on for months. Don’t spread panic.

[sangEta]

They need to get rid of stamp duty and make ISAs truly "tax free" investing!

[madleon]

HMRC thinks plebs can not be allowed to get rich through stocks how dare they when so much money is made in property 😂

[harrychufan]

Dang you Brits got it rough, I can practically invest in anything with my IRA, even small businesses, cryptos or sporting tickets

[RobCLynch]

With regard to index funds, its the funds that own the shares and not us. We just own units. Also, some index trackers don't own any shares...they just track indexes.

[Citizen-of-theworld]

This complaint by HMRC goes completely against the government’s intention to provide an incentive for individuals to save/invest for the future. It is the many small holding investors that would be affected, and these investments were made with good intentions following the law as they were lead to believe it applied.

It is a point of nuance that only serves to inspire fear in an already weak market. No doubt some power hungry low life bureaucrat getting a kick out of exerting authority by a marginal technicality.

[tinkukuty]

This statement from HMRC is absolutely unnecessary at any point of time, that section is very much open to interpretation and kid me not, people have been buying and holding fractional shares for a very long time and only now it seems to be problem for HMRC?

[russellbaker]

If your total shares are 55.2% then they can still only tax you on the 0.2% of the fractional share 😅 Not 55.2 as you own 55 shares.

They can only tax you or trying to tax you on the fractional of the share

Plus fractional shares owned or bought by the brokers on your behalf, so they are not even in your name.

Hey does anyone want to buy my 0.5% share in British gas on the stock exchange that is not even in my name.

Or if I own 50% fractional share and the decide I would like to buy another 50% fractional shares to make mine a 100% 1 whole share. Do I actually own 2 fractional shares or one whole one?

What a load of bollocks

[RogerYeahmon]

a fractional share is an OTC derivative and not a share 🤷🏻‍♂️

[ZeroRiskAppetite]

I'm playing it safe and rounded all my shares in trading212 to a whole number

[darrenholden]

I’m willing to bet anyone that there won’t be! It simply does not fit with the strategic aims of the government trying to get more investment into UK companies and stimulate growth!

[iang]

Surely if you buy consistently a fractional share becomes a whole share .. not Berkshire but Tesla etc

[Blackfire-Five]

Do you think this would apply to fractional shares in index funds e.g. VUSA? These aren’t shares as such, but they are fractional and within an ISA.

If they do go through with this (highly doubt it, it’ll be another ‘we’ve cancelled the 7 bin policy that was never a policy game’), it’ll be incredible unpopular, cruel, and kill S&S ISAs overnight, as no one will have faith in them anymore