Savings

penners324

Probably thinks the government will introduce a wealth tax.....

But that won't impact anyone with less than 5 bob in the bank

GadgetGuru

I also don't like keeping money in the bank, but we have little choice.
I have two maxed ISAs and the rest in several savings accounts across banks, waiting for next years ISA allowance!

Is buying something like investment gold a good idea - or another more 'physical' asset?
I did look at a buy-to-let but I don't really want all the hassle that can possibly come with it. 

Ocelot

wmb194 said:

Kim_13 said:

If you are worried, an ISA is your best bet. I suspect the earliest time at which allowances would be reduced would be the 25/26 tax year, and reducing the annual allowances going forward is a very different thing to removing them altogether. It would reflect badly on Labour to remove the very savings account they introduced in the first place. The Conservatives increased the ISA limit by more than inflation on occasion, but Labour also set up ISAs (in contrast to the Tessa they replaced I understand) to remain tax free year after year. Some had many thousands in ISAs by the time Labour left office.

Isas weren't really a radical concept, they just rebranded/rolled together Peps and Tessas and simplified them a bit. You couldn't roll over the interest earned in a Tessa.

https://en.wikipedia.org/wiki/Tax-exempt_special_savings_account

Anyone remember TOISAs?