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HMRC is planning a "block" on money market funds from stocks and shares ISAs for being too "cash like". HMRC is set to launch a clampdown in what has been branded, by personal finance experts, a "serious setback" for investors.

HMRC will bar money market funds from stocks and shares ISAs. It will instead undertake tests to determine whether an investment is eligible to be held in a stocks and shares ISA or is ‘cash like’, indicating that money market funds will be blocked.

Mark Burges Watson, Co-Founder of Kaldi says restricting access “undermines the very purpose of ISAs – supporting safe, flexible investment.”

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He said: “Blocking money market funds within Stocks & Shares ISAs would be a seri

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