An ISA is a financial product for personal investors to
contribute a limited annual amount to an investment account. Income
from an ISA is exempt from Income Tax. Only shares listed on a
recognised stock exchange may be held in an ISA.
If the deceased held any shares in an ISA the taxpayer will
include them on the IHT411 (
IHTM18011), or on form IHT417 if
foreign (other than those listed on the London Stock Exchange).
Value the shares in the same way as other shares.
The taxpayer should declare and include separately any cash
or insurance policies held in an ISA in the IHT400(
IHTM10021) or IHT100 (
IHTM10501).
