The limit is like ā¬1,000 here in Ireland. And every 8 years they come and steal your unrealized profits from any ETFs you have, even if you donāt sell. FML. Worst place in the world to be an investor.
Anyway sorry to derail the thread.
What the?.. How can they tax unrealized profits? A share is a worthless piece of paper until someone decides to pay you X amount of money for it. Sounds very wrong 
It did take too long, didnāt it. I was calling out incorrect ISA-eligibility criteria (across T212 and other platforms) for ages. I donāt know the exact date but I could see it coming a mile off. Not saying Iām Mystic Meg, but it was on the cards. It would have been prudent to act faster and better. That said, it would have been better to get it right first time. I feel like I offered to help T212 with their ISA compliance for free at some point (again, not verified that, but it rings a bell). I know admitting you need help is not a nice thing to publicly admit. But, hey, it might of limited the impact. I dunno. Iām a bit down about this. Shame to see T212 suffer such a backlash - we all make mistakes. But, then again, there were ways around this. There were also other solutions to this that wouldnāt have caused so much uproar.
Itās a real pain in the arse and itās why I donāt touch ETFs. Itās called ādeemed disposalā. The government pretends that you sold your holdings, and taxes you 41% of the profit. Every 8 years until you die or cash out. Itās a compound killer.
Hi @ChillBlast, T212Ā“s team are the experts. Not me. And they have already said that NIO is NOT ELIGIBLE for ISA. Hence why it is being removed.
I guess that T212 has established that NIO is registered in a non-compliant location. If you read Finkyās posts you will also understand.
So, please do not complain about having access to NIO within an ISA. NIO cannot be had in an ISA, as per HMRCās rules and the in-app notification.
Ā£12,300 is the CGT allowance in the UK
if you paid stamp duty for an NYSE stock, someone really fāed up something somewhereā¦
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Hi @EquityInvestor I didnāt mean to put you under the bus 
, I was just trying to find out more information as to why it was removed as from my understanding and knowledge I gained through researching the forums and elsewhere, I couldnāt understand the reasoning to the decision. I feel it is important as a trader to know the reasons behind decisions which effect your investments.
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I agree. Apologies if I was a bit harsh.
I am not an expert, but I think the reason is that either they have established that NIO is registered in a non-recognised location/exchange or they have not been able to determine where it is and hence have to play it safe. Its all a bit quick but I guess it is because they donāt want to get into issues with HMRC/the law.
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It doesnāt end with NIO
There are moreā¦ just depends if any unlucky client has purchased another of the many ineligible stocks in their ISA. Weāll have to wait and see.
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It is still available on Interactive investor platform under their ISA. I contacted them recently and they said its fine to hold in an ISA. Im annoyed to say the least, i bought into nio back in december so im sitting on a tidy sum and will be sitting on a lot more in the next few years. Now like many others I will have to deal with a massive tax bill when I come to sell in the next few years.
The only reason why i have not closed my account is that 212 is free otherwise i would have gone yesterday.
Would have been better ask Interactive Investor āwhyā they think it is able to be held in an ISA.
If you ask them please let us know their response.
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Thank you for your email.
Clients on our platform who have ADRs held in the ISA accounts can still hold and sell them.
We are aware of the current situation regarding ADRs held within ISA accounts and if we receive further information on this affected clients will be notified of any changes.
Kind Regards,
Thats the email i received from them and i dont think i will get anything else out of them. I really do think this needs looking into more and not just close peoples positions down just to be on the āāsafe sideāā
Nah its all good mate , and yeah I do agree with your 2 possible reasons for the removal 
. It would just be severely annoying if they remove it and then add it back at a later date if it was found out to be ISA compliant.
I do appreciate all the help from the forums so far on this matter and Iāll carry on my search for the answers! 
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I think that is going to happen to be honest and it will take me 3 years of isa allowance to get it back in again at present.
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just a quick search on stockopedia at the bottom it says its allowed in an ISA
@juz360 I have been in the exact same boat with interactive investor. ask them what is the underlying asset for NIO and where it is listed.
IF an ADR(S) is eligible for ISA they MUST know and have this information. HMRC guidelines on this subject is crystal clear without ambiguity.
Click for details if interested
Stocks and Shares investments for ISA managers - GOV.UK
Relevant published document:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/375474/isa-guidance-notes.pdf
Relevant paragraph 7.44:
If the investor holds an ADS/ADR that is traded on a US stock exchange the underlying investment is the shares represented by the ADS/ADR. If these shares are officially listed on a recognised stock exchange (see paragraph 7.74), the ADS/ADR will be a qualifying investment for stocks and shares ISA (provided that the 5% test is satisfied - see paragraph 7.39)
I asked them about NYSE:SE
Here is the reply. Please notice the how a random CS rep, uses language like āour trade management department looked into the stockā just to reassure the customer, in reality what she did was go and check the stock on their website 
Initial reply from interactive investor customer service
then I pressed them about where it is listed (sorry about the message format, if you use interactive investor you are probably aware the website is archaic)
my message asking for more details
Then there reply with the admittance and removal of the said stock:
Final reply from interactive investor customer service
edits: formatting
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cheers for digging further i have just posted a link earlier from stokopedia and at the bottom says its also available in a sipp and isa. I dont know how good the site is however as i got it from a thread over on reddit. There is a big debate over there as well as alot of people have lost a lot of money.
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apologies for repeating and keep copy pasting this over and over but what is written on stockpedia has no legal meaning and HMRC guidance on this is crystal clear, it is not āopen for interpretation with gray areasā and pinpoint accurate for these cases. it clearly singles out US stock exchanges and ADR/ADS specifically.
If the investor holds an ADS/ADR that is traded on a US stock exchange the underlying investment is the shares represented by the ADS/ADR. If these shares are officially listed on a recognised stock exchange (see paragraph 7.74), the ADS/ADR will be a qualifying investment for stocks and shares ISA (provided that the 5% test is satisfied - see paragraph 7.39)
further edit:
so if any one claims this is ISA eligible (stockpedia, II or anyone else) they probably know what that underlying asset is and which recognised HMRC board it is listed on.
there is not one donāt worry
no worries bud i appreciate what you have done. thanks again