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Individual Savings Accounts

Question for Treasury

UIN HL2068, tabled on 31 January 2024

To ask His Majesty's Government what guidance HMRC provides concerning whether fractional shares may be held in individual savings accounts; and whether they have made any assessment of any discrepancy between (1) such guidance, and (2) the contents of the Autumn Statement, guidance from the Financial Conduct Authority, and the consensus of the investment community.

Answered on

13 February 2024

At Autumn Statement 2023, the Government announced its intention to permit certain fractional shares contracts to be eligible ISA investments. This requires a change to the ISA Regulations and ISA manager’s guidance to define those eligible investments for ISA purposes.

Government has considered the Financial Conduct Authority’s initial position towards fractional shares, the position of the small number of firms offering them, and the view of the wider market.

Further information will be available in due course.

Answered by

Treasury