Guidance

Annual returns of statistical information (market value) for ISA managers

When and how to make an annual return of statistical information on ISA market value.

The requirement to make a market value return

Managers are required to make an annual market value return of statistical information to HMRC within 60 days of either of the following reporting dates:

  • 5 April of each year (in which case the return must be made by 4 June)

  • the date of ceasing to qualify, or act, as a manager

What period must be covered

The information required is the later of the period from the:

  • date the manager began to manage Individual Savings Accounts (ISAs)

  • last reporting date

What must be returned

Managers must return in relation to stocks and shares ISAs, the aggregate market value of investments under their management, together with separate figures for:

  • qualifying shares listed on a recognised stock exchange (including shares which are dual listed on a recognised stock exchange and listed/traded on another market)

  • shares admitted to trading on a recognised stock exchange in the European Economic Area (EEA)

  • qualifying securities issued by such a company where:

    • the securities

    • the shares in the company issuing the securities

    • the company issuing the securities is a 75% subsidiary of a company whose shares

are officially listed on a recognised stock exchange - included here will be securities of investment trusts that are so listed

  • qualifying securities issued by a company where:

  • the securities

  • the shares in the company issuing the securities

  • the company issuing the securities is a 75% subsidiary of a company whose shares

are admitted to trading on a recognised stock exchange in the EEA. Included here will be securities of investment trusts that are so admitted.

  • gilts

  • units in qualifying authorised unit trusts

  • shares in qualifying open-ended investment companies

  • shares in qualifying investment trusts

  • units and shares in qualifying non-UK collective investment schemes

  • the surrender value of qualifying policies of life insurance

  • cash

  • the total aggregate market value of all investments held in the ISAs

Managers must return in relation to cash ISAs, the aggregate market value of investments under their management, together with separate figures for:

  • the surrender value of qualifying policies of life insurance

  • cash, including cash in share and deposit accounts

  • the total aggregate market value of all investments held in the ISAs

Any investment represented by Depository Interests (DI) should be included in the category representing the underlying investment. For example, the market value of a DI representing qualifying shares should be included in the total for qualifying shares.

Managers must return in relation to innovative finance ISAs for the tax year 2016 to 2017 and later years, the aggregate market value of investments under their management, with separate figures for :

  • the outstanding principal balance of peer-to-peer loans under management (that is the amount in respect of the investment owing to the account investor at any time)

  • the outstanding principal balance of crowdfunding debentures under management (that is the amount in respect of the investment owing to the investor at any time)

  • cash

All valuations must relate to the value at 5 April in the year of return.

How to make market value returns of statistical information

Managers can make the market value return separately, in which case the entries are made on form ISA14(Stats), or the market value return can be combined with the annual return of statistical information (subscriptions), in which case the combined return is to be made on form ISA14a(Stats).

The return may be posted to HMRC or emailed to savings.audit@hmrc.gsi.gov.uk.

How to complete form ISA14(Stats) and form ISA14a (Stats)

All boxes must be completed from the left and unused boxes left blank.

  • Box 1 – Manager reference

Enter the reference allocated by HMRC (‘Z’ followed by 4 numeric characters).

  • Box 2 – Manager name

Enter full name of manager.

  • Box 3 – Year

Enter the tax year in which the end of the return period falls. For example, for a return made for the year ended 5 April 2017, the entry should be ‘2017’.

Stocks and shares ISAs

All values must be entered rounded up the nearest pound.

  • Box V04 – Qualifying shares

Enter the total market value of shares listed on a recognised stock exchange (or dual listed on a recognised stock exchange and listed/traded on another market) held under management at 5 April.

Enter the total market value of shares traded on a recognised stock exchange in the EEA held under management at 5 April.

  • Box V05 – Qualifying securities

Enter the total market value of all investments held under management at 5 April categorised as qualifying securities where either the:

  • securities

  • shares in the company issuing the securities

  • company issuing the securities is a 75% subsidiary of a company whose shares

are officially listed on a recognised stock exchange (include here securities of investment trusts that are so listed).

  • Box V05a – Qualifying securities traded on a recognised stock exchange in the EEA

Enter the total market value of all investments held under management at 5 April categorised as qualifying securities where the:

  • securities

  • shares in the company issuing the securities

  • company issuing the securities is a 75% subsidiary of a company whose shares

are admitted to trading on a recognised stock exchange in the EEA. Include here securities of investment trusts that are so admitted.

  • Box V06 - Government Securities

Enter the total market value of all investments held under management at 5 April categorised as government securities.

  • Box V07 - Units in qualifying authorised unit trusts

Enter the total market value of all investments held under management at 5 April categorised as units in qualifying unit trusts. Include investments in UK Undertakings for Collective Investment in Transferable Securities (UCITS) and UK Non-UCITS Retail Schemes (UK NURS) that are authorised unit trusts.

  • Box V08 - Shares in qualifying open-ended investment companies

Enter the total market value of all investments held under management at 5 April categorised as ‘shares in qualifying open-ended investment companies’. Include investments in UK UCITS and UK NURS that are open-ended investment companies.

  • Box V09 - Shares in qualifying investment trusts

Enter the total market value of all investments held under management at 5 April categorised as ‘qualifying shares and securities in investment trusts’.

Include the market value of investment trust shares transferred in from a Schedule 3 Save As You Earn (SAYE) option schemes or a Schedule 2 Share Incentive Plans.

  • Box V10 - Units and shares in qualifying non-UK collective investment schemes

Enter the total market value of all investments held under management at 5 April categorised as units and shares in recognised UCITS. Include investments held in non-UK NURS.

  • Box V11 - Surrender value of policies of life insurance

Enter the surrender value of all policies of life insurance held under management at 5 April.

  • Box V12 – Cash on deposit

Enter the total cash balance at 5 April of all cash held on deposit in a stocks and shares ISA.

  • Box V13 – Total

Enter the sum of boxes V04 to V12.

Cash ISAs

All values must be entered rounded up the nearest pound.

  • Box V14 – Surrender value of policies of life insurance

Enter the surrender value of all ISA policies acquired before 1 July 2014 and held under management at 5 April.

  • Box V15 – Other investment products

This box is no longer required. The form will be updated to remove this in due course.

  • Box V16 - Cash (including cash in share and deposit accounts)

Enter the total cash balance at 5 April of all other cash held in deposit accounts and building society share accounts in the cash component (see qualifying investments for cash ISAs).

  • Box V17 – Total

Enter the sum of boxes V14 to V16.

Innovative finance ISAs

  • box V18 - outstanding principal balance of peer-to-peer loans (that is, the capital amounts outstanding plus any interest due but unpaid on the loans) at 5 April

  • box V19 - total cash balance at 5 April in the innovative finance component

  • box V20 - total

Submission of annual returns of statistical information

Managers who fail to submit their returns of information by 4 June will be sent a reminder. No claims for payment made after this date will be processed by HMRC until the return is submitted amending information submitted. Managers can continue to make Government Bonus claims due on their Lifetime ISAs to HMRC for processing.

Forms ISA14(Stats) and ISA14a(Stats) will be amended in due course to facilitate reporting on innovative finance ISAs for tax year ending 5 April 2018. The ISA14a(Stats) will be further amended to enable managers to report the total number of ‘continuing deceased accounts’ they hold at the end of the tax year ending on 5 April 2019.

Penalties

Penalties may be charged on managers under Schedule 23 FA 2011 for failure to make a return or for making an incorrect return.

Published 5 April 2018
Last updated 18 July 2018 + show all updates
  1. Guidance on how to complete forms ISA14(stats) and ISA14a(stats) for innovative finance ISAs has been updated.
  2. First published.