Wow iām shocked. It went in the complete opposite direction i was expecting. The gov doing something helpful for once.
The gov doing something to get re-elected
ācertain fractional shares contractsā is an interesting statement, I wonder which ones would be excluded and why, hopefully not many. (and what happens if you already hold those fractionally an ISA - force sell or round?! , sounds like lots of admin for broker)
There was another comment about working with stakeholders to implement.
To me it sounds like ācertain fractional shares contractsā means there will be a particular technical structure that needs to be followed.
Being able to open several ISAs and also the confirmation that fractional shares will be allowed are great news! .
These are the ISA points in the Autumn Statement from the government website:
Source: Autumn Statement 2023 (HTML) - GOV.UK (www.gov.uk)
Any update on which fractional shares going to be allowed in an ISA? Converted all mine to full shares but now auto invested dividend on Vanguard index fund which means now have fractional shares again
At the time of writing, there is no official news. We will continue monitoring the situation and let you know if there are any updates.
Worth double checking but my understanding was collective investment funds were not impacted.
Reviving this thread 8 months later.
I may have missed all the action, so asking for a friend. Any update on this situation?
You would find updates on the government website or in the news.
The view being the current wording is unclear and that fractional shares can be held within an ISA, even though the government issued notification to clarify otherwise, but are potentially going to update the wording to allow it going forward, it just hasnāt happened yet.
Regardless of the Tax situationā¦
What if we didnāt want fractional shares in the first place ?
A few months ago I was partially filled - with something like (after the decimal) .312894 share.
Surely customers should have the option to buy only whole shares ?
You can buy whole shares, you choose.
If I understood Tarian correctly, I think they placed an order for whole shares, but it only got partially filled, so theyāve ended up with a fractional share they donāt want.