Chancellor Jeremy Hunt is reportedly considering allowing individual savings accounts to hold fractional shares, as part of the government’s efforts to encourage more investment in the UK stock market.
A person familiar with the matter told Bloomberg that the chancellor is set to announce a consultation on the plans at next week's Autumn Statement, alongside other changes to the ISA regime. Andrew Griffith replaced as City minister by former HSBC executive HMRC's existing policy prevents ISAs from holding fractional shares of stocks, or less than a full share of a stock, which can require investors to sell their stakes and incur taxes on the gains. According to Bloomberg, some market participants have expressed criticism of the policy, prompting trading apps to urge clarificatio...
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