Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 17 Oct 2024 10:04:39 GMT by jamilaakhund
Hello. I have moved to the UK in September 2021. Although I opened a cash ISA account in 2021, I only started investing in my stocks and shares ISA account in April (after 6th) 2024. Is there a chance for me to make backdated investment for year(s) I missed? I didn't know about ISA benefits back then.
Posted Fri, 25 Oct 2024 15:55:35 GMT by HMRC Admin 20 Response
Hi
No, you cannot make back dated investment for year(s) that you missed.
Thank you.
Posted Mon, 28 Oct 2024 14:47:17 GMT by Vijay Dsouza
hi I understand that gains on investment in ISA are not taxable and losses are not allowable . i invested sum "A" in a bond with an ISA wrapper in 2017 . The company behind the bond is in liquidation after being declared bankrupt. The effective value of the bond is now "nil" .I have sought compensation due to " bad advise " being provided to me by my adviser . This has been granted by FSCS and i have been paid "A+B" with "B" being the interest . Do i have to declare the compensation and / or the interest paid to me by FSCS , in light of the fact that my investment is nil . Many thanks for your time and response
Posted Mon, 04 Nov 2024 12:29:25 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
CG13030 - Compensation: personal compensation or damages
Thank you.
Posted Tue, 05 Nov 2024 08:16:21 GMT by Vijay Dsouza
Hi Many thanks for your response I have been through the guidance but did not find anything pertaining to "bad advice " within an ISA wrapper where the underlying asset (s) are in liquidation with value "nil" Thanks

You must be signed in to post in this forum.