Tax lift for closed-ended funds

funds eligible for £7,000 stocks and shares isa post 6 april due to loophole in revenue rules

Traditional closed-ended structured products offering 100% downside protection remain eligible for the £7,000 stocks and shares Isas post-6 April. This is despite the fact that from 6 April, the Revenue has said, investors using a vehicle certain or near certain of getting 95% or more of initial capital back within five years will only be able to invest in it via the smaller £3,000 cash portion of the Isa. The advantage for closed-ended structured products has come about because they are treated by the Revenue as a qualifying share not a Ucits vehicle. As there is currently no mention of...