HMRC in kick-out ISAbility u-turn

In today's ISA Bulletin 20, the authority says it has reconsidered its earlier position that kick-outs were not ISA-eligible following lobbying from providers. "We have received a number of representations from managers and their advisers so we have taken the chance to look at this issue again," the HMRC says. "We have now reconsidered and can confirm that kick-out plans where the trigger event is conditional on a financial index reaching a pre-determined point, are within Regulation 7(6) and are therefore qualifying investments for the stocks and shares ISA." Last month, HMRC caus...