How to value a stocks and shares ISA

Stocks and shares ISAs can consist of a range of quoted investments, including shares on the London Stock Exchange, unit trusts and more. Over time, their value can go down as well as up.

On the inheritance tax forms, stocks and shares ISAs are treated the same as shares quoted on the London Stock Exchange.

Cash ISAs, by contrast, are treated as cash, the same as bank accounts.

This distinction applies even if the deceased held a stocks and shares ISA and a cash ISA with the same high street bank.

How to value a stocks and shares ISA

Some stocks and shares ISAs are "self select" (you pick the shares). It is possible to value these, and other stock and shares ISAs, by calculating share values in the same way as listed shares (see our guide "How to value listed shares for probate").

However, almost invariably, it is easier to contact the bank, fund manager or investment company which manages the ISA. Request a date of death valuation.

If a formal valuation is not required, check statements for the last value of the ISA before the date of death.