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MSE News: Isa limit to rise in April
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"The annual Isa limit for savers is set to rise to around £10,670 from April next year ..."
"The annual Isa limit for savers is set to rise to around £10,670 from April next year ..."
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Comments
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I understand that it will in fact increase to £10680, so that it can be divided into 12 equal payments of £890.
Has to be good news!In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
I didn't earn enough to save the full allowance this year and certainly won't next year!
Strikes me that I'd rather have a salary that rises with inflation than a savings account that increases its limits
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If you only have a cash ISA as I have, it's only £235 more. Big deal:mad:0
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isa increase , its better than nowt , its money the lazy scroungers wont recieve0
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This has to be one of the worst non-stories I have read on MSE and which has been described as 'news'..
Its described as 'Isa limit to rise to £10,670' but then goes on to say:
Could you just not wait until a formal announcement is made and then report it as news?The Office for National Statistics revealed yesterday the September figure stood at 4.6%, leading to the probable £470 rise.
Therefore, the annual cash Isa limit will rise from £5,100 to approximately £5,335.
HM Revenue and Customs has yet to officially set the new limit, which may vary slightly from the numbers quoted, but is expected to do so on Friday or early next week.
Regards
Sunil0 -
They are only doing this so that the banks can get more money at say 3% to then lend out at 7%!I am NOT a mortgage & insurance adviser - or anything to do with finance, that was put on by the new system I dont know why?!0
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If you only have a cash ISA as I have, it's only £235 more. Big deal:mad:
And it will increase at RPI next year again. There really is no pleasing some people is there?
Anyway, who says you have to put the money in a low rate cash ISA? I have been putting the full £10.2k into a S&S ISA for the last year. So far, I am up far more than any feasible bank loan rate.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Why would the bank get more money in? It will simply move from taxed accounts to tax free accounts.TREVORCOLMAN wrote: »They are only doing this so that the banks can get more money at say 3% to then lend out at 7%!0 -
As well as the observation about multiples of 12, recall that past ISA allowance increases (3 of them) have not been frequent and have been 'political' rather than by 'indexation'. In some ways an annual indexation by itty-bitty amounts - like an extra £240 in 2011, say - doesn't help with the marketing of ISAs by making the amounts you can save quite as well known, like they are today......under construction.... COVID is a [discontinued] scam0
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