As had been expected Regulations have now been made to allow fractional shares to be held within an ISA. The Individual Savings Account (Amendment) (No. 2) Regulations SI 2024/1022 provide that certain defined fractional interests are qualifying investments for ISA purposes. Conditions apply and the shares must otherwise be qualifying shares. Consequential changes are also made to related provisions in the principal ISA Regulations (SI 1998/1870) – for example to disapply voting rights requirements on the shares. The fractional shares amendments have effect from 4 November 2024. The Regulations also make changes around the requirement to provide a National Insurance number on the opening of an ISA with effect from 2025/26 onwards.
The Child Trust Funds (Amendment) (No. 2) Regulations SI 2024/1023 broadly follow similar principles in relation to fractional interests in shares included in child trust funds accounts and...
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As had been expected Regulations have now been made to allow fractional shares to be held within an ISA. The Individual Savings Account (Amendment) (No. 2) Regulations SI 2024/1022 provide that certain defined fractional interests are qualifying investments for ISA purposes. Conditions apply and the shares must otherwise be qualifying shares. Consequential changes are also made to related provisions in the principal ISA Regulations (SI 1998/1870) – for example to disapply voting rights requirements on the shares. The fractional shares amendments have effect from 4 November 2024. The Regulations also make changes around the requirement to provide a National Insurance number on the opening of an ISA with effect from 2025/26 onwards.
The Child Trust Funds (Amendment) (No. 2) Regulations SI 2024/1023 broadly follow similar principles in relation to fractional interests in shares included in child trust funds accounts and...
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