ISAs that invest specifically in AIM-listed companies that qualify for Business Property IHT Relief (BPR) can now be modelled by entering the ISA as a standard Stocks and Shares ISA.
To enter an AIM ISA:
Click on the + button
1. Go to the Savings & Investments screen.
2. Select the investment Type “Stocks & Shares ISA”.
3. The investment will automatically default to the Primary person in the plan so you need to check this and change this by using the drop down box if this is not the case.
Please Note - An ISA can only have one owner.
4. To designate holdings within an ISA as AIM-listed company shares, you will need to use the drop down box on Qualifies for IHT Relief (BPR/APR) and select 'Yes'. This will provide you with further boxes to complete that are relevant to this investment.
Select the Year qualifying for IHT Exemption for the ISA.
5. In the Contribution field, enter the annual contribution amount, if future contributions are planned. When you have entered a contribution amount £ or %, the software will prompt you to update the timing of the contribution/s.
6. Click on the Update Timing prompt or you can navigate to the Timing option on the ISA menu.
From here, if you have set up an existing event for the contributions to start you could use that event to set the timing of the contributions by dragging and dropping these events into the appropriate boxes.
Or alternatively, you can click on the grey panels within the Timing box to create an Event for the contributions to start and stop. Set these as your Start/End events. Click Done
You can check this is working by looking at Year View>Investments
This will also show on the Overview>Legacy screen