Fewer Isas voided than expected

Fewer than 85,000 Isa subscriptions for the 1999/2000 tax year will have to be unwound due to violat...

Fewer than 85,000 Isa subscriptions for the 1999/2000 tax year will have to be unwound due to violations of the regulations. This is significantly less than was expected when Isas were launched two years ago, according to the Pep and Isa Manager's Association (Pima). Peter Shipp, chief executive of Pima, said the Inland Revenue had confirmed there were considerably fewer than 85,000 subscriptions in the 1999/00 tax year which violated the mini and maxi rules. When the Government first introduced Isas, industry experts predicted the number of subscriptions that would have to be voided w...