Cash ISA cut – devil in the detail
Cash for fees, money market funds?
An HMRC bulletin has today outlined the intended measures:
- no transfers from stocks and shares and Innovative Finance ISAs to cash ISAs
- tests to determine whether an investment is eligible to be held in a stocks and shares ISA or is ‘cash like’
- a charge on any interest paid on cash held in a stocks and shares or Innovative Finance ISA
