2014 / 15 ISA allowance

talexuser

If they do limits ISAs you can bet your bottom dollar that any limiting of the Caymen's and other British dependency havens where the SERIOUSLY rich can hide their money will only be lip service for PR purposes so business as usual there.

FOREVER21

The new ISA rate should go up with CPI to be anounced soon, my bet is it will be around 2.7%,still every little helps in these days of poor interest rates.

Archi_Bald

FOREVER21 wrote: »

The new ISA rate should go up with CPI to be anounced soon, my bet is it will be around 2.7%,still every little helps in these days of poor interest rates.

Afraid, you appear to be mixing up the maximum annual ISA deposit with the interest rate for ISAs.

The max deposit is governed by law (max 2014-15 deposit will be dictated by CPI in October 2013).

The interest rates for ISAs are purely the domain of ISA providers. There is no law that determines ISA interest rates (thankfully).

DragonQ

Archi_Bald wrote: »

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?

Doshwaster's link estimates it to be 2% of savers. Did you even read it?

Ed-1

ColdIron wrote: »

My money is on another meager £240 like last year

Well it looks like you've lost (which you'll be pleased about)! With CPI for September announced at 2.7%, the 2014/15 ISA allowance should rise by £360 as 2.7% of the current ISA limit is £311 but it's rounded to the nearest £120 so this year will be rounded up (last year it was rounded down). 11520x1.027 rounded to the nearest £120 is £11880 meaning the cash ISA limit should be just short of £6000 at £5940.

DragonQ

This'll be the first year since I started saving that I won't actually have enough money to fill my cash ISA allowance, so it doesn't affect me much.

Then again, I can't see myself wanting to fill a cash ISA in April like the previous years unless rates shoot up.

ColdIron

Ed-1 wrote: »

Well it looks like you've lost (which you'll be pleased about)! With CPI for September announced at 2.7%, the 2014/15 ISA allowance should rise by £360

Superb, for once I am happy to be proved wrong

ColdIron

Or maybe not

http://www.telegraph.co.uk/finance/personalfinance/pensions/10379522/State-pension-to-rise-by-3-a-week-in-2014-how-the-calculation-is-made.html
http://www.thisismoney.co.uk/money/news/article-2460534/Inflation-disappoints-City-expectations-holding-2-7-September-despite-slowdown-petrol-food-price-rises.html

The figures will be clarified in the Autumn Statement on the 4th of December

Ed-1

ColdIron wrote: »

Or maybe not

http://www.telegraph.co.uk/finance/personalfinance/pensions/10379522/State-pension-to-rise-by-3-a-week-in-2014-how-the-calculation-is-made.html
http://www.thisismoney.co.uk/money/news/article-2460534/Inflation-disappoints-City-expectations-holding-2-7-September-despite-slowdown-petrol-food-price-rises.html

The figures will be clarified in the Autumn Statement on the 4th of December

Don't know where the second article gets its figures from. They say £540 in the headline and have a £240 increase in the figure in the box in the article. However it won't go up by either of those. The formula gives £360.

rb10

ColdIron wrote: »

Or maybe not

http://www.telegraph.co.uk/finance/personalfinance/pensions/10379522/State-pension-to-rise-by-3-a-week-in-2014-how-the-calculation-is-made.html
http://www.thisismoney.co.uk/money/news/article-2460534/Inflation-disappoints-City-expectations-holding-2-7-September-despite-slowdown-petrol-food-price-rises.html

The figures will be clarified in the Autumn Statement on the 4th of December

My view is that the Telegraph is over-egging their 'exclusive' on a potential ISA cap.

Treasury officials discuss a lot of things, only a tiny number of which make it into policy. A cap on the value of an ISA is likely to be consulted on (publicly) and discussed at length before being implemented.

All the hype is because the Telegraph want to make a big thing of some information a civil servant leaked to them.