Stocks and shares ISAs gains after paying IHT

PHANTOM1125

Good evening forum members.

We have successfully been granted probate between two executors and we have paid IHT tax already. The stocks and shares ISAs have gained in value are we liable for more tax on these gains e.g 20K gain.

Thank You

Keep_pedalling

Not if they are still held in the ISA. IHT applies on the value at death. Had these been outside an ISA then CGT would apply.

DRS1

I was quite surprised to read this which suggests the ISA treatment survives death.

Individual Savings Accounts (ISAs): If you die - GOV.UK

Some more IHT perhaps?

PHANTOM1125

Thank you for your reply. No they have been paid out from the ISA so are they subject to CGT and is that by each executor (x2) to deal with individually?

Many thanks

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81911136#Comment_81911136

It's only proceeds from selling the investments that could have been paid out from the ISA, but then it would only be cash, not subject to CGT?