More of us should participate and benefit from the wealth creation engine of the world - companies. The flexibility to own any fraction of listed companies and funds is key to this - and is now under threat by the UK tax man. Freetrade cut commission fees and made it more accessible to build a diversified portfolio in some of the biggest and best known companies in the world through the introduction of fractional shares in the UK. The ability for investors to select the amount of money they want to put into each investment eliminates much of the complexity in creating a diversified portfolio. Unfortunately, as we saw in press reports earlier this summer, HMRC has argued that the ISA rules do not permit investors to hold fractional shares in an ISA. We disagree with their position and, as a business, we are speaking up because we feel that it’s right to stand behind the millions of retail investors across the UK who have benefited from fractional shares. With the Autumn Statement coming up at the end of November, we have the perfect opportunity for the Government to clarify the rules to explicitly allow fractional shares in ISAs. A clarification with retroactive effect would reassure millions of retail investors. @griffitha @Jeremy_Hunt we’ve made our case to you why this is a no brainer and an easy win for retail investors at all stages of their savings journey. It’s time to bring the ISA into the 21st century. Let’s make sure that investors can use their ISAs to invest in fractions!

One share represents fractional ownership of a company. Half a share represents fractional ownership of a company. @ClaerB understands this. Someone at @HMRCgovuk seems not to. on.ft.com/3CXc0LK