http://www.legislation.gov.uk/uksi/2003/2747/signature/made
The Individual Savings Account (Amendment) Regulations 2003
Income tax
Tax
Income
King's Printer of Acts of Parliament
2024-05-21
INCOME TAX
These Regulations further amend the Individual Savings Account Regulations 1998 (S.I. 1998/1870). The principal effect of the amendments is to allow shares or units of UCITS schemes operating under the widened investment powers in the UCITS Amending Directive (2001/108/EC) within the stocks and shares component of Individual Savings Accounts. This is subject to a 5 year test that the investor is not certain (or near certain) of the return of 95% of his initial investment (the “95% test”). If the test is not met the shares or units can fall within the cash component.
Jim MurphyNick AingerTwo of The Lords Commissioners of Her Majesty’s Treasury