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New ISA Allowance
Comments
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Does anyone know if the accumulation total for Isas has increased with today's new increase?0
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Welcome to MSEDoes anyone know if the accumulation total for Isas has increased with today's new increase?
I've merged your thread into this one & the answer to your question can be found here:
http://www.moneysavingexpert.com/news/2009/04/budget-2009-cash-Isa-limit-raised0 -
Dunno. Have you looked for Egg's retraction of the 4% interest rate on in-credit balances, where MSE staff were one of the last to start such a thread?How many threads can we have on one subject?
No... that post wasn't merged as I suggested on that particular thread.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
cyclonebri1 wrote: »:money:Exactly, every money saving site and every advisor goes with the standard "use your tax freesavings allowance 1st". The banks are absolutely preying on this advice by offering abissmal rates of interest on cash isa's. Even with new money it's easy to beat the best isa with a nett figure.
Leave your cash isa where it lies and they screw/laugh at you. We really are being hadover
Clearly you have a very naive and short term view. :rolleyes:Remember that the key is NET interest vs. inflation. Just 7 months ago the BoE rate was 5.5% but RPI was 4%+ (IIRC).
ISA's should be considered as long term.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 -
Does anyone know if the accumulation total for Isas has increased with today's new increase?
There is no limit for accumulated ISA's????
You get a limit per tax year, which you either use or lose!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 -
Clearly you have a very naive and short term view. :rolleyes:Remember that the key is NET interest vs. inflation. Just 7 months ago the BoE rate was 5.5% but RPI was 4%+ (IIRC).
ISA's should be considered as long term.
Thats a very condescending view of my post if you don't mind.
I started with tessa's when they came out and then switched to the isa when it took over. I have the max you can have in a cash isa as I invested the max per annum from day 1. My wife has over £20km in hers.
Yes I value the tax position by keeping money here BUT, the banks are taking advantage of the advice being given to always go cash isa 1st by shafting us
I am sick of every year having to move the account, which takes around 3 weeks each time, because all the acceptable rates are base + 1 year bonus rate.
Am I wrong jonbvn??????I like the thanks button, but ,please, an I agree button.
Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.;)
Always expect the unexpected:eek:and then you won't be dissapointed0 -
Whilst the increase in ISA limits is welcome. Surely the distinction of bringing it in for over 50s first breaks this governments own age discrimination laws.
I sat yesterday one of the diploma exams for pensions and in it is a section saying age discrimination is now illegal and yet the government brings in something as blatant as this. Do they think the rules do not apply to them or did they forget?I am an Independent Financial Adviser. For regulated individuals like me there are rules on giving financial advice. Therefore any posts I make are meant to be helpful but are not financial advice.0 -
It's not discrimination - the reasons behind it have already been pointed out: http://forums.moneysavingexpert.com/showthread.html?p=20903013#post20903013Surely the distinction of bringing it in for over 50s first breaks this governments own age discrimination laws.
And it's only a 6 month advantage. Mountains and molehills spring to mind...Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
It isn't a 6 month advantage, but rather a loss of £3000 tax free allowance this year.Paul_Herring wrote: »And it's only a 6 month advantage. Mountains and molehills spring to mind...
09/10 - under 50s £7200, over 50s £10200
10/11 - everyone £10200
So over 50s are gaining an extra £3000 allowance this year - which the rest of us will never see. It isn't simply a 6 month advantage.0 -
ITYM £1.5K cash allowance. And it's not that much if you're saving for the long term, and if you're not, then ISA's aren't that much of a great deal at the moment.BruceyBonus wrote: »It isn't a 6 month advantage, but rather a loss of £3000 tax free allowance this year.
09/10 - under 50s £7200, over 50s £10200
10/11 - everyone £10200
So over 50s are gaining an extra £3000 allowance this year - which the rest of us will never see. It isn't simply a 6 month advantage.
As I said, mountains/molehills.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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