TISA welcomes Bok Bond choice in tax incentivised investments

TISA welcomes the Government's announcement today that the Bond Exchange of South Africa has been designated as a ‘Recognised Stock Exchange' by Order of the Commissioner for HMRC.

This means that these underlying assets are eligible to be placed in ISAs and CTFs, provided they meet the other criteria for these schemes.

HMRC determines which exchanges are ‘listed' and have thus confirmed that the Bond Exchange of South Africa meets the HMRC interpretation of ‘listed'. However, investors should remember that only those securities that are designated as ‘listed' on the exchange qualify-units traded via the over-the-counter market (OTC) will not meet HMRC interpretation of ‘listed'.

TISA Director-General, Tony Vine-Lott said, ‘This demonstrates the ever-increasing diversity of underlying assets allowable in the UK's tax-incentivised savings schemes. In the modern world, the UK's diverse investor-base demands access to a truly wide range of investment opportunities, while wishing to be sheltered from tax on gains. We appreciate HMRC's continued work on which exchanges are of significant quality to qualify as ‘recognised'. TISA is extremely pleased to see yet another recognised exchange added.'