Revenue & Customs has changed its policy regarding money incorrectly removed from Peps or Isas as a ...
Revenue & Customs has changed its policy regarding money incorrectly removed from Peps or Isas as a result of an error by the manager. Withdrawals previously could only be reinstated in specifically defined circumstances, whereas the Revenue has now confirmed managers who err in this way can now reinstate the Pep or Isa accounts from which the withdrawal was made. The manager must contact the HMRC Audit Unit in order to gain clearance before reinstating the account.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
