ISA limit changes (or not) - 2017 Autumn budget

veryintrigued

Individual Savings Account (ISA) annual subscription limits

The ISA annual subscription limit for 2018-19 will remain unchanged at £20,000. The annual subscription limit for Junior ISAs and Child Trust Funds for 2018-19 will be uprated in line with CPI to £4,260.

https://www.gov.uk/government/publications/autumn-budget-2017-documents/autumn-budget-2017

Former_MSE_Andrea

Hi!

Follow MSE news for our Budget updates:

MSE News: Budget 2017: Chancellor to unveil Government spending plans

veryintrigued

MSE_Andrea wrote: »

Hi!

Follow MSE news for our Budget updates:

MSE News: Budget 2017: Chancellor to unveil Government spending plans

This article you've linked to still doesn't mention the ISA limit changes.

MallyGirl

I don't think there were any ISA changes

veryintrigued

MallyGirl wrote: »

I don't think there were any ISA changes

I'll post it again....this time with highlighting......

The ISA annual subscription limit for 2018-19 will remain unchanged at £20,000. The annual subscription limit for Junior ISAs and Child Trust Funds for 2018-19 will be uprated in line with CPI to £4,260.

dunstonh

To be honest, £20k per annum is plenty good enough. Especially with the dividend allowance and CGT allowance for unwrapped.
You can mostly invest a couple of hundred thousand and not pay a penny in tax nowadays (and have many hundreds of thousands tax free within a decade) If you have more than that, then maybe paying a bit of tax that goes towards the NHS, defence etc is a good thing.

Alexland

I know it's only small but I am pleased with the 3.2% JISA and CTF limit increase as it gives more allowance to give our hard earned money away.

I filled my son's JISA this tax year and I intend to fill it at the start of next tax year. He is on an offer with Orbis where any JISA investments in the first 12 months (which can cover 2 full tax years of allowance and transfers of existing JISA/CTFs) will be managed until he is 18 with no fund or platform fees - so he will get a great motorcycle!

I agree £20k is plenty for an adult but it would have been nice to see the LISA allowance within the £20k also rise.

Ed-1

Alexland wrote: »

I agree £20k is plenty for an adult but it would have been nice to see the LISA allowance within the £20k also rise.

I don't think Hammond's too keen on the LISA. He's not mentioned it once in his 3 fiscal events.

Alexland

Ed-1 wrote: »

I don't think Hammond's too keen on the LISA. He's not mentioned it once in his 3 fiscal events.

Maybe the LISA is already too administratively complex for providers without changing the limit. I did wonder if they would remove the penalty for early withdrawal and just stick to loss of bonus. Or if they would move to a number divisible by 12 or matching the JISA limit. Still no mention of extending the life of the HTB ISA either...

jimjames

veryintrigued wrote: »

This article you've linked to still doesn't mention the ISA limit changes.

Why should the limit increase from £20k? The average person can't put anywhere near that away every year so it's not exactly a priority for the government if they're trying to cut costs

veryintrigued

jimjames wrote: »

Why should the limit increase from £20k? The average person can't put anywhere near that away every year so it's not exactly a priority for the government if they're trying to cut costs

You been drinking?

Put your specs on and re-read my posts. Where have i stated that the 20k should (or is to) be raised?

Am stating that the article the MSE employee is stating that the Budget changes are listed in does not outline the changes I've stated (twice) above. (The JISA limit if I have to repeat yet again!).

Sometimes its really not worth posting factualities on here.

I'll await an apology from you and Le Loup.