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Calculating 2013/14 ISA Allowance
Looter
Posts: 131 Forumite
I've heard that the ISA allowance for the next tax year will use this September's CPI figure (to be announced in October) and not the RPI figure which is normally used.
Does anyone know if this is correct? I can't seem to find the answer on the internet. Thanks!
Does anyone know if this is correct? I can't seem to find the answer on the internet. Thanks!
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Comments
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September's CPI figure will be released in October, then we'll know what the new ISA allowance will be.0
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Found the answer on Wikipedia, CPI figure then it's rounded up to be divisible by 12. Happy days:beer:0
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Do you think the allowance could be £6,000 or more?0
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YoungSaver20 wrote: »Do you think the allowance could be £6,000 or more?
Don't think so, based on current CPI the cash ISA allowance would be around £5,880, and CPI is only going to drop. Isn't it??0 -
Thank you. I don't know much about CPI and how the allowance would be calculated. For the first time in years, I can afford to put the full allowance into the ISA (But I must wait until June when my current ISA matures).0
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YoungSaver20 wrote: »(But I must wait until June when my current ISA matures).
Why?
You can start the next one on 6th April 2013.British Ex-pat in British Columbia!0 -
Well it's a choice of £240 or £360, and with CPI falling, it could go either way now.
(Half of that for cash)"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
YoungSaver20 wrote: »Do you think the allowance could be £6,000 or more?
If enough people sign this petition it could be close on double that
http://epetitions.direct.gov.uk/petitions/385990 -
Why?
You can start the next one on 6th April 2013.
I did start one in April but then I changed it to the a fixed rate ISA in June, so I have to wait until next June before it matures.0 -
YoungSaver20 wrote: »I did start one in April but then I changed it to the a fixed rate ISA in June, so I have to wait until next June before it matures.
If you are going to pay new money into your 2013/2014 ISA, you can do that from April 6 2013. You do not have to wait until your 2012/2013, or any, ISA matures.0
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