Tax free cash ISA allowance to be cut

[Justin Passing]

Back on ISA's. Got home from a break today and had a letter telling me that one of my fixed term ISA's (Kent Reliance - 4.94%) had matured on the 5th and they had automatically put it into another one year fixed term ISA at 4.15%. I had14 days from that date to transfer to another provider, withdraw it or move into one of their other ISA's. I looked online and their current 1 year fixed is 4.25%. Cheeky buggers. It's only worth just under a couple of hundred quid for the year but I’ve sent them a message to move it into that one. If they change the rate again before my 14 days are up and it’s better, I’ll move it again. Only takes a message or a phone call.

That implies it's a 200k fund. Why not put some in a S&S Isa? 10% say.
It sounds like we'll all be pressured to soon. You'd expect 2-3x the return with no effort.
If you have more than 85k, you're at risk with the Kent people.
The full arguments here fill a can of ifs buts and maybes, but if you buy bonds through a platform and the platform goes bust, you still own the bonds.

 

[jono_h]

Stand down. Nothing’s happening.

Cash Isas: Plans to cut tax-free allowance on hold after backlash

There had been reports in recent weeks that the chancellor was going to cut the £20,000 limit.

www.bbc.co.uk

 

[Scally-Ho]

Stand down. Nothing’s happening.

Cash Isas: Plans to cut tax-free allowance on hold after backlash

There had been reports in recent weeks that the chancellor was going to cut the £20,000 limit.

www.bbc.co.uk

Yes, yet another skidding U turn on the horizon.

 

[ellal]

Yes, yet another skidding U turn on the horizon.

How can it be a U-turn if the policy hadn't actually been announced?

Sounds more like jumping to conclusions over a consultation.

 

[noseall]

Yes, yet another skidding U turn on the horizon.

Eh?

 

[motorbiking]

Eh?

Rachel was going to cut the Cash ISA limit to increase tax on savings, now she has to find another way to tax people more.

 

[Mottie]

You'd expect 2-3x the return with no effort.

I could expect to my hearts content. Doesn’t guarantee that I'll get it though.

 

[MNW67]

How can it be a U-turn if the policy hadn't actually been announced?

Sounds more like jumping to conclusions over a consultation.

It sounded more like a wet dream from the stock broker type lobbyists.

 

[motorbiking]

I honestly can't see why Labour would cap a very simple tax free savings platform and force people to invest in stocks.

 

[noseall]

I honestly can't see why Labour would cap a very simple tax free savings platform and force people to invest in stocks.

You just said they aren’t?

 

[noseall]

Sounds more like jumping to conclusions

Sounds like the RWR are confused, poor old Tory duffers.

 

[JohnD]

was going to

Was rumoured to.

 

[motorbiking]

You just said they aren’t?

Was rumoured to.

All your questions are answered if you read the link

 

[denso13]

I could expect to my hearts content. Doesn’t guarantee that I'll get it though.

It's almost as guaranteed as you can get. Goes up year after year.

 

[noseall]

Was rumoured to.

Must be a secret. No one has told the RWR. They think it's nailed on policy.