Budget: £15000 ISA Limit from 01/07 for Cash OR S&S

Archi_Bald

Nednats wrote: »

Will P2P become regulated? As P2P maybe more risky than S&S.

Yes, P2P will become regulated from April.

P2P in NISAs will be a while yet:

The Government intends to enable peer-to-peer loans to be held within a NISA and will consult on how to implement this later this year.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293756/8079____New_ISA_Junior_ISA_Child_Trust_Fund__Budget_14_Final_v1.0.pdf

butterflymum

karlie88 wrote: »

Nisa should start to offer NISAs.



http://www.nisalocally.co.uk/

Just had to sign in especially to hit the 'Thanks' button - your post made me laugh out loud......:rotfl:!

Ignatius_A

Interestingly, according to the telegraph...

You can even hold money in your stocks and shares Isa in cash. If you take out an Isa via an "investment shop" such as Hargreaves Lansdown or Barclays Stockbrokers, you have a huge range of choice about where to put the money – one of which is a deposit account.

so if you're one of those with sufficient cash to invest, you COULD place an additional CASH sum into an investment ISA TODAY, making use of unused investment isa budget, and then in July transfer that additional cash into your cash ISA already within the isa wrapper, making use of this year's limit (assumes you have sufficient cash to be at risk of maxing next year's 15K limit though - otherwise no point)

You'll have to move quick though

DragonQ

CLAPTON wrote: »

the 10% saving tax band isn't being abolished : in fact it's being doubled but the tax rate is being reduced to 0%

so if you only had saving interest you could have tax free
10,000 + 5,000


from april 2015

In my opinion that is synonymous with the 10% rate band being abolished but fine. The tax-free allowance is gonna be more than £10,000 by the way (£10,500 IIRC).

EDIT: Actually the £10,500 threshold might be for 2015-16, can't remember.

Nednats

karlie88 wrote: »

Nisa should start to offer NISAs.



http://www.nisalocally.co.uk/

They should really rethink the name
It's already taken



http://www.iceskating.org.uk/

Mattygroves2

DragonQ wrote: »

In my opinion that is synonymous with the 10% rate band being abolished but fine. The tax-free allowance is gonna be more than £10,000 by the way (£10,500 IIRC).

EDIT: Actually the £10,500 threshold might be for 2015-16, can't remember.

The £10,500 tax free allowance is from 14/15.

charliehell

How does this affect P2P from july..the 3 and 5 year fixed loans pay out income and capital?

CLAPTON

DragonQ wrote: »

In my opinion that is synonymous with the 10% rate band being abolished but fine. The tax-free allowance is gonna be more than £10,000 by the way (£10,500 IIRC).

EDIT: Actually the £10,500 threshold might be for 2015-16, can't remember.

no, the saving band is being doubled, the rate is reduced to zero

if the band were being abolished then one would have 10,500 tax free and then everything at 20%

whereas one has
10,500 tax free plus saving band of 5,000 at 0%

(all from 2015)

so makes a difference of 1,000 to people with mostly saving income and little pension/earned income

Doshwaster

zerog wrote: »

Does the government really make a lot of money from taxing savings? Why not just let all savings be tax-free?

I suppose one argument is that it would be unfair that someone living off the income off a large lump sum (e.g inheritance) would be paying nothing to the running of the country while another person working full time would be paying tax.

Archi_Bald

charliehell wrote: »

How does this affect P2P from july..the 3 and 5 year fixed loans pay out income and capital?

See post 53