Funny i thought the chancellor was actually a labour minister
Tax free cash ISA allowance to be cut
- Thread starter diy_fun_uk
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People getting lump sums from pension schemes , smallish inheritance.
So not poor .
What you class 20k / 40k/ 60k invested that someone will have to use to live on for the rest of their lives in retirement as being rich
Who said people would be investing 20k each and every year
£60k won't give much of s return unless gambling in stocks etc. Property is the smart way to invest and will be for the foreseeable future.
You failed to understand my post , small investments will hardly be affected , only those with £20k a year each year investment will be really affected by a reduction and can hardly be considered poor.
Poor people have no savings at all and often totally run out of money towards the end of the month.
and you fail to understand that people will get over that as their 25% lump sum out of a pension pot and need the best return on it to help supplement their small monthly pension
what you class someone on a works pension of 400 quid a month with a 25k lump sum payment as rich ?
Change to isa would not affect them .
how ?
People don’t like uncertainty.
Cash ISA - guaranteed return with no loss of capital.
S&S ISA, nothing guaranteed, possibility of not even retaining your capital.
A bird in the hand is worth two in the bush comes to mind.
Tell that to the resident tax paying communist philanthropic member who has a thing about those that 'avoid tax'.
Seems like he'd like the ISA limit raised!
This is the thing. Some folk, like Justine Passing, are into the stock market to varying degrees. Fine. Equally, some aren't.
You are not getting the best return in an isa , just a safe one .
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