Treasury to push ahead with cash ISA reform despite backlash

https://www.independent.co.uk/news/uk/home-news/cash-isa-savings-tax-rule-change-labour-b2714435.html

Posted by Anxious-Guarantee-12

10 comments

  1. Fucking tools. I’m keeping money in a cash ISA at the moment because I need to do some major house renovations in the next couple of years. If I have to use my allowance for shares instead of cash there is no way I’m investing in the sclerotic UK. I’ll just invest it elsewhere.

  2. I love that for every good decision Labour are taking there also taking like 5 bad or stupid decisions. It’s so funny.

  3. so let’s get this right…. high interest rates are supposed to encourage saving so less money is in the economy in order to reduce inflation, many people suffer, including small businesses , reduced investment, unfixed mortgages etc but it’s for the “greater good” (banks raking in huge sums at the expense of us plebs, again, is a lucky coincidence)…. and now they’re punishing people and disincentivising saving aswell? huh?

  5. Right in time, just while the stock markets are going wonky. You can just see the headlines now.

  6. Can anyone explain without being derogatory if a possible cash isa reform is going to help the everyday worker? What is the point of this proposal?

  7. “Some speculate the chancellor could return the tax-free savings limit to 2009 levels”

    Read the article before getting worked up. This is literally the sub heading.

  8. They’re worried about an upcoming marker downturn putting people off investing, so they want to force you🙂

  9. Just in case, like me, you didn’t know how the allowance works, it’s PER YEAR. So at the moment you can put £20,000 into an ISA without paying tax. Next year you can put in another £20,000 and still not pay tax. And so on until you have hundreds of thousands of pounds in your ISA that isn’t liable for any tax. There are very few people who have enough spare money to save even £6,000 a year every year and if they do, there are probably better places to put it than a cash ISA.

  10. First they came for cash ISAs, I didn’t speak out because I don’t have a cash ISA.

    How long until they target S&S ISAs?

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