HMRC wants no action on kick-out plans until end of review

clock

The HMRC has reversed its decision to force advisers to contact it about kick-out structured products held in ISAs until it completes a review on the issue.

In today's ISA Bulletin 20, the authority says following representations, it is conducting a review into whether kick-out structured products qualify for ISA investment. "We have received a number of representations about our interpretation of the rule that qualifying securities must not be issued on terms that require the loan to be repaid or the security to be re-purchased or redeemed within the period of five years from the date of purchase," HMRC says. "While we are considering these representations ISA managers need take no further action to identify any holdings of ‘kick-out' pl...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Structured Products

Exploring the options for downside protection in a bear market

Exploring the options for downside protection in a bear market

Making the case for diversification through structured products

David Wood
clock 04 January 2023 • 5 min read

Structured product returns fall in 2020 despite continued success

Almost three-quarters generated positive returns

David Brenchley
clock 26 January 2021 • 2 min read

Structured product performance analysis tool launched for advisers

Free for advisers

clock 02 March 2020 • 2 min read