Investors allowed split cap compensation paid into Isas

The Inland Revenue has quantified the exact terms on which split cap investors will be able to put c...

The Inland Revenue has quantified the exact terms on which split cap investors will be able to put compensation payments into their Isas. A deal between 18 firms and the FSA has led to the establishment of a company, Fund Distribution Limited, to distribute up to £143m of compensation for losses arising from the purchase of zero dividend preference shares or holdings in funds which invested heavily in the shares. Until now the Revenue has suggested that anyone who has held such split cap investments via an Isa or a Pep during the period 1 July 2000 to 30 June 2002 can put compensation int...