ISAs

[Buck]

The tax on cash held in a S&S ISA is under consultation but they say only if it is 100% cash/money market funds. So, any funds held alongside stocks and shares wouldn’t attract a tax charge.

 

[Beebo]

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

It’s scaremongering from the usual sources.

The decision to tax cash in a S&S isa is to stop people from using it as a loop hole, because the cash limit is now £12k.

There really can’t be many people who exhaust their full £12k cash isa every year, but are too nervous to put the remaining £8k in a very safe vanilla market tracker.

 

[SpokeyDokey]

It’s scaremongering from the usual sources.

The decision to tax cash in a S&S isa is to stop people from using it as a loop hole, because the cash limit is now £12k.

There really can’t be many people who exhaust their full £12k cash isa every year, but are too nervous to put the remaining £8k in a very safe vanilla market tracker.

The £12000 Cash ISA limit will only apply to under 65's - just to avoid any confusion in the thread.

 

[Beebo]

The £12000 Cash ISA limit will only apply to under 65's - just to avoid any confusion in the thread.

And anyone over 65 with a spare £20k per annum really doesn’t have much to worry about.