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New queries, issue 4587

21 February 2017
Issue: 4588 / Categories: Forum & Feedback

That’s a wrap; An asset transfer; Is backdating best?; Jersey distributions

That’s a wrap

Will an additional permitted subscription to an ISA count as a chargeable event?

A client’s husband had an individual savings account (ISA) portfolio of about £500 000 when he died.

I understand that between death and the date of the additional permitted subscription (APS) being made the portfolio will be subject to tax in the normal way. After the APS the portfolio regains its tax-exempt wrapper.

However is there a need to consider the gains and losses of the underlying investments between the date of death and the APS and are these therefore subject to capital gains tax?

Taxation readers’ thoughts on this matter would be gratefully appreciated.

Query 18 940– Portfolio.


An asset transfer

Will the transfer of assets abroad rules apply on transfers before living in the UK?

Our client Tommy arrived in the UK in 2015-16...

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