UK ISA £5,000 Consultation.

RogerPensionGuy

Looks like anyone can put in comments on this wonderful UK ISA 5K ploy.

Last year IIRC,  I contributed some views on the LTA removal, but they replied they didn't really want views from individuals, but looking at the link below, looks like they want individuals to comment.

It will be interesting to see how this UK ISA 5K pans out, I hope it starts before the election or I'm guessing Labour will stop it before it starts.
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https://www.gov.uk/government/consultations/uk-isa-consultation#:~:text=At Spring Budget 2024, the,UK, while supporting UK companies.

eskbanker

RogerPensionGuy said:

It will be interesting to see how this UK ISA 5K pans out, I hope it starts before the election or I'm guessing Labour will stop it before it starts.

Realistically there's no prospect of this being launched before the election - the consultation doesn't even finish until June, so there'd be months after that before an agreed design position would be determined, and the questions hint at the complexity of actual implementation:

Question 13: How long would it take for you to launch a UK ISA product and when would you start building it following this announcement?

Question 14: What would the cost implications be and what operational changes would you need to undertake? 

Personally I think even the start of 2025/26 would be ambitious, regardless of the outcome of the election.

P.S. There's an ISA board that would seem a more natural home for discussion of this than the pensions one....

https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

masonic

There seems to be cross party support for the principle behind this, so it might not be doomed, but it probably won't happen until at least 2025/26. The main challenge will of course be defining a UK equity investment.