Does anyone why Abn Amro Bank (ABN) is being kicked out of the ISA? I have a message saying it doesn’t meet eligibility however I was under the impression that this was traded on the Euronext exchange in NL which is recognised by HMRC. The bank is itself is mostly owned by the Dutch government so it’s not exactly some meme stock. I wouldn’t mind sticking it in a general investment account but the dividend is 7%. I’m hoping this is a mistake and a mix up with AAVMY or something before I have to sell
We identified that both of the instrument’s listings (ABN & AAVMY) are ineligible as per the HMRC guidelines.
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Thanks, is it possible to know the details in what way it doesn’t meet the guidelines, so I can look out for it in the future?
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The main listing appears to be on Euronext Amsterdam, however, the instrument is a depository receipt. That means that in order for it to be eligible to be held in an ISA, the underlying parent company should be listed on a recognized exchange. In this instance, that is not the case.
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I see, so it is listed as a DR and HMRC do not allow them in ISAs. Thankyou for taking the time to get back to me, appreciated
HMRC do 100% allow DRs in an ISA if (as B.E states) the parent security is/would be a Qualifying ISA security in it’s own right. In ABN’s case it is complex but a listed/traded/qualifying Parent security can not be identified. THIS makes it unable to be held in an ISA and NOT solely because it is a DR.
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