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Self assessment ISA question

Hi All,

I have a client who has received an income distribution in the year from a Unit Trust held within a S&S ISA.  I have documents from Jupiter, the fund manager and these show an amount of tax deducted from the distribution to my client.  I was wondering why tax would have been deducted when the units were held within an ISA?  Any help on this would be vey much appreciated!

Normally I wouldn't include details of an ISA on the self assessment, but I take it I should in this instance?

Thanks very much in advance!


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31st Mar 2010 14:40

ISA tax deduction

Dividends on equities held in an Isa are paid net of basic-rate tax, so I would assume that is what is shown.

It used to be (pre 2004?) that the ISA manager could then reclaim the notional tax paid.  This is nolonger the case.

As you say, ISAs don't need to be included under SA.

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By Anonymous
31st Mar 2010 15:12

ISA question

Thank you! I remember now!

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