HMRC is consulting on draft amending regulations allowing ISAs to retain their tax advantages after the death of the account holder.
HMRC is consulting on draft amending regulations allowing ISAs to retain their tax advantages after the death of the account holder. Beneficiaries of the estate will not be subject to income tax or CGT on amounts held in the account during the administration period or, if earlier, until three years after the account holder’s death.
This measure was first announced at Autumn Statement 2015 and primary legislation is now in Finance Act 2016, s27.
Comments on the draft Individual Savings Account (Amendment No. XX) Regulations 2017 are invited by 7 April. See http://bit.ly/2ljFBJo.
HMRC is consulting on draft amending regulations allowing ISAs to retain their tax advantages after the death of the account holder.
HMRC is consulting on draft amending regulations allowing ISAs to retain their tax advantages after the death of the account holder. Beneficiaries of the estate will not be subject to income tax or CGT on amounts held in the account during the administration period or, if earlier, until three years after the account holder’s death.
This measure was first announced at Autumn Statement 2015 and primary legislation is now in Finance Act 2016, s27.
Comments on the draft Individual Savings Account (Amendment No. XX) Regulations 2017 are invited by 7 April. See http://bit.ly/2ljFBJo.
