Reeves' ISA review

S_dosh

True, yes. I see what you mean. I was lucky last year, the transfer was all done within a few working days

pecunianonolet

Please use https://forums.moneysavingexpert.com/discussion/401374/cash-isas-the-best-currently-available-list for other ISA chat. 

gt94sss2

fiddlesticks0 said:

I would usually open a new ISA and start the transfer of the maturing one a week or two in advance but for this one it looks that doing that may be a bit more tricky than usual (I've asked re this issue in another thread) so I don't know whether I'll be able to do that this time and may need to wait until 1st Dec to do the opening and transfer request.

I don't see why you can't open a new ISA and start any ISA transfer process now. 

Every ISA provider I have used (apart from one) has had a "wait until any notice/maturity date" option on their transfer in forms.

fiddlesticks0

gt94sss2 said:

fiddlesticks0 said:

I would usually open a new ISA and start the transfer of the maturing one a week or two in advance but for this one it looks that doing that may be a bit more tricky than usual (I've asked re this issue in another thread) so I don't know whether I'll be able to do that this time and may need to wait until 1st Dec to do the opening and transfer request.

I don't see why you can't open a new ISA and start any ISA transfer process now. 

Every ISA provider I have used (apart from one) has had a "wait until any notice/maturity date" option on their transfer in forms.

As the previous post mentions not using this thread for this chat - the reasons are explaned in the thread linked below (I have always done the 'wait until maturity date' request previously but this provider says not to request transfers in advance and I believe don't use transfer forms - it's all done in the app/online, plus there is a complication with the maturing ISA) https://forums.moneysavingexpert.com/discussion/comment/81746468

Altior

Grumpy_chap said:

jimjames said:

With an ISA of £11 million

That's a bonus £10 million over and above the article about ISAs of £1 million.
Must be very very few people that achieved that.

The key element is that they would have achieved close to the same via a GIA. Not their stock picking prowess.

The ISA element only kicks in (for cap gains) when those gains are realised. Which, they probably haven't been, to achieve these numbers. 

ie, they are not ISA millionaires due to ISAs, but due to the way they invest. They are investment millionaires. There are lots of investment millionaires, and/or DB/DC pension millionaires. In fact, there are lots of property millionaires as well.

It's palpably disingenuously written in a way to make out that the only reason it has happened for them is a 'tax giveaway'.

Er, no. It's not. 

The most significant context, completely ignored it seems to me, is asset inflation over time. Including vast 'money printing' and the erosion of the value of fiat money over recent history. 

eskbanker

Altior said:

Grumpy_chap said:

jimjames said:

With an ISA of £11 million

That's a bonus £10 million over and above the article about ISAs of £1 million.
Must be very very few people that achieved that.

The key element is that they would have achieved close to the same via a GIA. Not their stock picking prowess.

The ISA element only kicks in (for cap gains) when those gains are realised. Which, they probably haven't been, to achieve these numbers. 

ie, they are not ISA millionaires due to ISAs, but due to the way they invest. They are investment millionaires. There are lots of investment millionaires, and/or DB/DC pension millionaires. In fact, there are lots of property millionaires as well.

It's palpably disingenuously written in a way to make out that the only reason it has happened for them is a 'tax giveaway'.

Er, no. It's not. 

The most significant context, completely ignored it seems to me, is asset inflation over time. Including vast 'money printing' and the erosion of the value of fiat money over recent history. 

But someone building up an eight-figure investment pot in a GIA will have accumulated a massive CGT liability, even if it hasn't actually been incurred yet, so it seems valid to me to make the distinction that using the ISA tax shelter negates that and improves their net wealth.  You might choose to infer that it's attributing the size of the pot to using ISAs but that isn't actually stated....

intalex

Any early news on this from the leak?

westv

intalex said:

Any early news on this from the leak?

Nothing I've seen

wmb194

intalex said:

Any early news on this from the leak?

You can read the document here: https://d1e00ek4ebabms.cloudfront.net/production/uploaded-files/OBR_Economic_and_fiscal_outlook_November_2025-e48e1cf8-cf63-4d3a-aca1-1d6a05d6109f.pdf

Increased tax on dividends and interest.

From April 2026, a 2 percentage point increase to the basic and higher rates of tax on dividends, raising them to 10.75 and 35.75 per cent respectively. 

From April 2027, a 2 percentage point increase to the basic, higher and additional rates of saving income tax, increasing them to 22, 42 and 47 per cent respectively. 

The_Green_Hornet

Over 65s to keep full 20k cash allowance.