This is a small sample of the queries received into the TISA office recently. Raising issues for response is one of the benefits of membership - for more details please contact us.
Q: When will the revised ISA guidance be available?
A: Please see here. 16/11/11
Q: Can you clarify HMRC guidance 7.47?
A: Managers can operate a single account as long as there is a clear audit trail to enable separate identification. 16/11/11
Q: Could an Australian Government bond qualify for ISA inclusion?
A: No, see HMRC Guidance 7.2 – 7.54 for details on ISA eligible investments. 28/11/11
Q: Does an ADR not on a RIE qualify for ISA inclusion?
A: It depends whether the underling investments it represents are listed on a recognised exchange. The ADR does not need to be listed but the investment it relates to must be. 28/11/11
Q: Can you provide some guidance on the reinstatement of an ISA?
A: See HMRC bulletin 40 here. 9/12/11
Q: Do you have a list of qualifying/non-qualifying investments?
A: Please see here. 9/12/11
Q: Does the Aktie Torget market in Sweden constitute being a ‘recognised stock exchange’?
A: No, this is confirmed in HMRC bulletin 41. 28/12/11
Q: Can a 17 year old with a fully subscribed £3600 JISA also subscribe the full £5340 allowance to a cash ISA?
A: Yes. 28/12/11
Q: Where is the information on annual reminders in HMRC Guidance?
A: See 10.40 – 10.44. 9/1/12
Q: Is the IEX a recognised stock exchange?
A: No, see HMRC Table 2 here for reference. 9/1/12
Q: Is it possible for an investor to transfer half of their previous year’s ISA into us?
A: Providing the manager allows partial transfers out this would be fine. 20/1/12
Q: Can you provide some guidance on fees and charges?
A: See HMRC Guidance 10.47 for details. 20/1/12
