A 22% tax on cash interest in stocks and shares ISAs is due to come into force in April 2027. With many still waiting on clarification of the rules, some have raised concerns over how the tax will interact with platforms offering the tax wrapper.
The Treasury confirmed earlier this year that a 22% levy on cash interest in stocks and shares ISAs will take effect from April 2027, with rules set to be laid out this Autumn. The changes see a flat rate charge on any interest or alternative finance return paid on cash held within a non-cash ISA. Additionally, the rules state non-cash ISA portfolios made up of 100% cash-like assets will be non-qualifying investments. Castlefield partner Olivia Bowen told Professional Adviser that "a couple of clients" have voiced concerns over the tax and Castlefield advisers are working to ensure...
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