Autumn Statement – TISA comment re: ISAs
Commenting on the Autumn Statement announcement to allow the transfer of ISA assets to spouses and civil partners on death, Carol Knight, Operations Director at TISA said:
"Today’s announcement allowing the transfer of ISA assets to spouses and civil partners on death provides a fairer outcome, especially for women in retirement, and is one we have long advocated.
"Often a wife or civil partner will have savings in a husband’s name and can lose out significantly from the current rules whereby investments held by deceased ISA savers lose their tax-free status before they are inherited. Allowing ISA savings to be transferable without leaving the ISA wrapper will enhance the greater flexibility introduced earlier in the year and act as a further incentive to save in ISAs."
Ends…
For further information, please contact:
Carol Knight, TISA operations director – Mobile: 07967 317003
Email: carol.knight@tisa.uk.com
Issued on behalf of TISA by Newgate Communications, contact Alistair Kellie – Tel: 020 7680 6558 or 0780 12345 98
Email: alistair.kellie@newgatecomms.com
Notes for Editors
TISA
TISA is a not-for-profit membership association operating within the financial services industry. We represent the interests of over 145 member firms involved in the supply and distribution of savings and investment products and services.
TISA has a highly successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for consumers. Policy and regulation continues to be the major focus for our members with regard to corporate responsibility.
TISA and its members’ remit is evolving into a clearer focus on pro-active consultation in the regulatory world in order to influence policy and associated regulation before its creation, rather than reacting to issued policy directives. This will help to ensure a more considered policy creation from the authorities.