UK HMRC Sets 22% Tax
HMRC will tax interest on cash held in stocks-and-shares Isa's at 22% under new rules from next April. - - Plans include three core rules with non-cash Isas barred from full investment in cash-like assets such as money market funds though permitted below 100% of portfolio. - - Transfers from non-cash Isas to cash Isas not allowed but cash to investment transfers permitted. - - Move follows November Budget cap on annual cash Isa allowance for under-65s at £12,000 to encourage investment in capital markets.
HMRC will tax interest on cash held in stocks-and-shares Isa's at 22% under new rules from next April. - - Plans include three core rules with non-cash Isas barred from full investment in cash-like assets such as money market funds though permitted below 100% of portfolio. - - Transfers from non-cash Isas to cash Isas not allowed but cash to investment transfers permitted. - - Move follows November Budget cap on annual cash Isa allowance for under-65s at £12,000 to encourage investment in capital markets.