ISAs - is something about to change?

caff

caff

caff

Soldato
Joined
8 Feb 2004
Posts
3,778
Location
London
I'm sure I heard somewhere that you should invest in an ISA before the end of March, is something about to change?
 
caff said:
I'm sure I heard somewhere that you should invest in an ISA before the end of March, is something about to change?
Click to expand...

Well you've got a limited amount you may put into an ISA per tax year. If you want to make use of this tax year's allowance then you need to do that before the end of March (end of the tax year is approaching.) Is that what you might be thinking of?
 
caff said:
I'm sure I heard somewhere that you should invest in an ISA before the end of March, is something about to change?
Click to expand...
April 5th is the new tax year, and you can only benefit from a fixed amount per year.
 
Borris said:
April 5th is the new tax year, and you can only benefit from a fixed amount per year.
Click to expand...
There were rumours that Brown might reduce the mini cash ISA limit from £3000 to £1000 – we’ll find out within the hour but I don’t think anyone seriously expects it to be changed.
 
clv101 said:
There were rumours that Brown might reduce the mini cash ISA limit from £3000 to £1000 – we’ll find out within the hour but I don’t think anyone seriously expects it to be changed.
Click to expand...

It was rumoured, but I'm 99% sure that it was proved wrong, and the £3k limit will be here to stay. :)
 
clv101 said:
There were rumours that Brown might reduce the mini cash ISA limit from £3000 to £1000 – we’ll find out within the hour but I don’t think anyone seriously expects it to be changed.
Click to expand...

He would be stupid to try something like that. That would give out a different message to one labour want with trying to get people to save more.
 
Sputnik II said:
I've had an ISA for a number of years now and tbh I don't think they are that good. It might be tax free but, the interest rate is low.
Click to expand...

Have you been maxing the ISA every tax year to get the full interest applied to it? Or is it not a mini cash ISA?
 
Sputnik II said:
I've had an ISA for a number of years now and tbh I don't think they are that good. It might be tax free but, the interest rate is low.
Click to expand...
What else gives you ~5% risk free? :confused:
 
Limits on ISAs are due to stay the same until 2010. You can stick £3000 a year in one, and if you ahve a partner - she can stick £3000 in one to.

£6000 a year tax free at approx 5% (which if you can save for 25 years at the same amount a year) gives you £7500 a year interest

Exactly what I'm on track to have ;)
 
http://www.hmrc.gov.uk/budget2005/revbn02.htm

Current law and proposed revisions

4. The current ISA limits are set out in regulation 4(2) of the Individual Savings Account Regulations 1998. These state that the maximum limit will be £7000, of which £3000 can be in cash, until end of tax year 2005/6 and £5000 and £1000 respectively for tax year 2006/7 onwards.

5. The retention of the existing limits will mean a change to this regulation to delay changes to the limits until the end of the tax year 2009/10.
 
chippie said:
Read that link again.

It clearly states that the cash element of the ISA will remain at £3000 until 2010 in the top bit of the page.

So, it's not going to change.
Click to expand...
Read point 5 that Amps posted again... ;)
 
You must log in or register to reply here.
Back
Top Bottom