Tax Free Investments and the Inland Revenue

Do Investment companies who run ISA's (share not cash) and or Friendly Societys notify the Inland Revenue of the names of investors? If so why - as they are not taxable.

Reply to
TrEaSuRe
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"TrEaSuRe" Societys notify the Inland Revenue of the names of investors? If so why - as

To consider whether the source of the monies has come from undeclared income or gains?

Reply to
Doug Ramage

Without a hint of irony, "TrEaSuRe" Societys notify the Inland Revenue of the names of investors? If so why

Presumably to ensure you only have one running at a time?

Reply to
Alex

In message , Doug Ramage writes

I think its to ensure that you dont contravene the contribution rules and limits. AFAIAA, the amounts invested arent recorded just the type and the fact that you have contributed. I cant see the IR being really worried about the source of no more than £7k p.a.

Reply to
john boyle

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