2014 / 15 ISA allowance

veryintrigued

Yes am keen - but hey ho.

So the allowance is typically incresed in line with CPI.

But my question is - when is the Autumn statement that this is announced? Normally end of Nov / early Dec but do we have an exact date please?

Regards

Looter

The next inflation figures are due out on 15 Oct according to the BOE home page so not long to go.

ColdIron

My money is on another meager £240 like last year

typistretired

The Chancellor of the Exchequer, George Osborne has announced that he will give his annual Autumn Statement to Parliament on 4 December 2013

ffacoffipawb

typistretired wrote: »

The Chancellor of the Exchequer, George Osborne has announced that he will give his annual Autumn Statement to Parliament on 4 December 2013

That would make it a Winter Statement, surely?

tell_it_how_it_is

ffacoffipawb wrote: »

That would make it a Winter Statement, surely?

No, winter usually officially starts on December 21st.

Doshwaster

Discussions about a lifetime limit for ISA holdings with £100,000 being suggested:
http://www.telegraph.co.uk/finance/personalfinance/investing/10373750/Are-politicians-about-to-start-tinkering-with-Isas.html

Archi_Bald

That would be political suicide for the government. If they want to lose votes in droves, tinkering with ISAs would be a grand idea.

DragonQ

Archi_Bald wrote: »

That would be political suicide for the government. If they want to lose votes in droves, tinkering with ISAs would be a grand idea.

Doubt it. Most people don't have £100,000 in savings, in case you weren't aware.

Archi_Bald

DragonQ wrote: »

Doubt it. Most people don't have £100,000 in savings, in case you weren't aware.

I do admit, I do not have hard and fast statistics at my disposition. You seem to have them, would you care to share them?

I would say that millions of professionals have saved the max into ISAs (and PEPs previously) ever since they did become available. Naturally, most if not all of these ISAs have have grown way beyond their original deposit values.

Also, there are millions of young professionals who have set themselves up the "ISA way" for their retirement savings. They might not have quite reached £100K, but they will have made a conscious decision to invest for their own future by means of an ISA.

Fair enough, if the government can see a good case to restrict future tax-free savings and investment schemes for Joe Bloggs, they can probably argue a credible case. I say 'probably' because I can't see how they could possibly come up with anything better than people actually making their own provisions for their own financial needs.

But a U-turn on taxing people on the provisions they have already made in the past for their long-term future would be a massively idiotic thing to do. Firstly, it would be a huge vote loser in typically conservative constituencies. Secondly, it would raise diddlysquat tax revenue in the grand scale of things. Upping corporation tax by 0.1%, or just making sure Vodafone and/or Philip Greene's wife etc actually pay all the tax they should be paying would yield a lot more money for the treasury.

As an aside, none of this would of course make much sense to your typical tabloid reader. They would just stupidly chant for punishment of those who have made and are making provisions for themselves.

Yorkie1

I agree with Archi Bald. Savers are already feeling the pinch from the dire rate of interest on their savings - partly because of the money going into the banks from the government's mortgage schemes (for want of a better descriptor). Pensioners are seeing their income drop and many people in the middle of their lives are planning through ISAs for sufficient income to produce a decent quality of living.

I also agree that as many people won't have such sums available, the politics of envy will come into play and give the government a boost in the arm in the popularity stakes.