Status of Abbey Guaranteed Options

Letter

Dear Editor, Further to your article (14 February, page 1) speculating on the Isa status of the rec...

Dear Editor, Further to your article (14 February, page 1) speculating on the Isa status of the recently launched Abbey Guaranteed Options Plan, we would like to provide your reader's with some clarity on the issue. Abbey has received confirmation from the Inland Revenue that the Abbey Guaranteed Options Plan is allowable within the stocks and shares component of the Isa. The Revenue has clarified that the '95% rule' applies to products sold through collective investment schemes, and not to products backed by shares in closed-ended companies. As such, the rule does not apply in this case...