If Cash ISAs are ended by Government.

jimjames

[Deleted User] said:

Hypothetical question.

If say they changed the 20k ISA allowance to one where 5k has to be S&S, do you think that will be a definitive 3 : 1 ratio?

Or for instance do you think in theory you could put 15k into a cash ISA and simply not bother with S&S?

When originally introduced it was £3k cash or up to £7k S&S ISA so cash was under 50% of the total allowed.

Rich1976

Outside of a workplace pension, most people do not invest and have no interest in doing so either because they don’t understand it or they don’t have much left over each month to do so, or financial matters do not interest them.

getting rid of cash Isa’s would not mean they all suddenly take an interest in stocks and shares isas, they will just use normal savings accounts.

subjecttocontract

I'm retired and put £20k into cash ISAs every year. Like many retired people I already hold equities but have no interest in putting more money into S&S ISAs. So if the £20K limit was reduced I would just save less and probably pay more tax. Perhaps that's the plan !

[Deleted User]

Thanks for the above replies.

Section62

Just received email from Hargreaves Lansdown -

Beat Rachel Reeves' Cash ISA raid with one of the highest fixed rates

Dear XXXXX

Rumours are circulating that Rachel Reeves could cut Cash ISAs in the Spring Statement on 26 March.
....

masonic

Makes a change from their annual "HR tax relief on pensions could be axed, so open and fund our low cost SIPP today".

hallmark

https://www.gov.uk/government/publications/autumn-budget-2024-overview-of-tax-legislation-and-rates-ootlar/841ddc37-58e0-4d3f-9b53-123e8903d274#:~:text=As announced at Autumn Budget 2024, the annual subscription limit,£4,000 until April 2030

2.6 ISA, Junior ISA, Lifetime ISA and Child Trust Fund annual subscription limits

As announced at Autumn Budget 2024, the annual subscription limit for:

• ISAs will remain unchanged at £20,000 until April 2030
• Junior ISAs will remain unchanged at £9,000 until April 2030
• Lifetime ISAs will remain unchanged at £4,000 until April 2030
• Child Trust Funds will remain unchanged at £9,000 until April 2030

These measures will apply to the whole of the UK.

Albermarle

Section62 said:

Just received email from Hargreaves Lansdown -

Beat Rachel Reeves' Cash ISA raid with one of the highest fixed rates

Dear XXXXX

Rumours are circulating that Rachel Reeves could cut Cash ISAs in the Spring Statement on 26 March.
....

I received the same. I think it is wrong for a ( supposedly respected ) investment platform to be using mainly politically driven media speculation in this way.
I moved an ISA to them for a cashback and have been wondering whether to stay or not. They just made up my mind for me.

Section62

Albermarle said:

Section62 said:

....

I received the same. I think it is wrong for a ( supposedly respected ) investment platform to be using mainly politically driven media speculation in this way.
I moved an ISA to them for a cashback and have been wondering whether to stay or not. They just made up my mind for me.

My HL S&S ISA had already gone elsewhere... though admittedly it had more to do with their fees, and Vanguard's fee changes finally prompting me to shuffle things around.  But this marketing wouldn't make me want to put money in an HL ISA, quite the opposite.

friolento

Albermarle said:

Section62 said:

Just received email from Hargreaves Lansdown -

Beat Rachel Reeves' Cash ISA raid with one of the highest fixed rates

Dear XXXXX

Rumours are circulating that Rachel Reeves could cut Cash ISAs in the Spring Statement on 26 March.
....

I received the same. I think it is wrong for a ( supposedly respected ) investment platform to be using mainly politically driven media speculation in this way.
I moved an ISA to them for a cashback and have been wondering whether to stay or not. They just made up my mind for me.

Haven't they been doing much the same every February/March each year?  All in an effort to bolster the client monies they hold.