ISAs

[vickster]

I've opened a new shares ISA with Wealthify (Aviva) in addition to the Vanguard one (I don't like having all my eggs in one basket)! Was easy to open, choose level of risk etc....just proving challenging to get Natwest to transfer the funds across (I understand they have to be very sure I'm not being scammed but still!). They give some cashback and their fees are low (researched on MSE)

 

[Chislenko]

I wonder how long before Cash Isa's are the next tax target.

 

[Drago]

Lots of speculation that ISA'S will indeed be in the crosshairs when the you-know-what happens.

 

[Pblakeney]

I wonder how long before Cash Isa's are the next tax target.

I doubt they will be removed but the contribution amounts are to be lowered.

 

[FrankCrank]

This may be of some use, only recently realised it myself

"ISA protections in the UK ensure your tax-free savings and investments are safeguarded if your provider fails. Cash ISAs are protected up to £120,000 per person per institution, while Stocks & Shares ISAs are covered up to £85,000 for provider mismanagement or bad advice"

 

[Drago]

I doubt they will be removed but the contribution amounts are to be lowered.

Depends on which news reports you read over the last day or so.

Either way, I took mine elsewhere and it earned me 4 large in a week, less than tax man's pound of flesh.

 

[wakemalcolm]

when the you-know-what happens.

Just say, I didn't know what......?

 

[Drago]

Just say, I didn't know what......?

It's the P word so can't really say. When our lizard overlord is replaced with another, if you catch my drift.

 

[kingrollo]

I looked at cash ISA,s then stocks and shares .

In the end I invested in a Pinarello.

 

[newts]

The lady from accounts imposing 22% tax on cash held in stock & shares isa's will cost far more in bureaucracy than they will get from the tax

 

[kingrollo]

The lady from accounts imposing 22% tax on cash held in stock & shares isa's will cost far more in bureaucracy than they will get from the tax

Would it ? - I wouldn't have thought it that much different tbh.
Why 22% ?

 

[newts]

Would it ? - I wouldn't have thought it that much different tbh.
Why 22% ?

People will only keep tiny amount of cash in a stock & shares isa, probably just enough to cover fees.
Tax @22% form April 2027 on interest of 3.5% for £150 cash holding would be about £1.15. By the time HMRC have several cups of tea & make decisions to setup it would likely be a large nett loss.

 

[Pblakeney]

People will only keep tiny amount of cash in a stock & shares isa, probably just enough to cover fees.
Tax @22% form April 2027 on interest of 3.5% for £150 cash holding would be about £1.15. By the time HMRC have several cups of tea & make decisions to setup it would likely be a large nett loss.

Just checked my account. Cash balance =£0.00.
Feel free to take 22% of it. 🤣

 

[newts]

Just checked my account. Cash balance =£0.00.
Feel free to take 22% of it. 🤣

There'll be a mass movement of investing next March whilst people tidy up their accounts, wonder if it'll effect share prices in a positive way?