Limit on value held in Stocks and Shares ISAs

EddieQ

jimjames said:

EddieQ said:

There have been  reports that the Treasury may be considering bringing in  a limit on the value held in stocks and shares ISAs, potentially as part of the future budget.

Where are these reports? I've done a google search and can't find anything about such a proposal. Can you provide some links?

There were several articles in the lead-up to last Autumn's budget where this possibility was referred to, for example in the Investor's Chronicle and the online Daily Mail i.e 'This is Money', and other websites e.g. Fidelity (article 23/10/24),  which suggested RR was considering changing the rules on ISAs generally, limiting the value which could be held in these savings vehicles.   I had a look at the original Resolution Foundation document from 2023. The measure which they suggested was to   prevent further contributions to ISAs after more than a certain threshold value had been reached. But as has been pointed out in previous posts , even that's not straight-forward. Although RR did nothing in last year's budget about ISAs except for freezing annual contribution limits, she's even more desperate for funds this year.. 

Ch1ll1Phlakes

EddieQ said:

jimjames said:

EddieQ said:

There have been  reports that the Treasury may be considering bringing in  a limit on the value held in stocks and shares ISAs, potentially as part of the future budget.

Where are these reports? I've done a google search and can't find anything about such a proposal. Can you provide some links?

There were several articles in the lead-up to last Autumn's budget where this possibility was referred to, for example in the Investor's Chronicle and the online Daily Mail i.e 'This is Money', and other websites e.g. Fidelity (article 23/10/24),  which suggested RR was considering changing the rules on ISAs generally, limiting the value which could be held in these savings vehicles.   I had a look at the original Resolution Foundation document from 2023. The measure which they suggested was to   prevent further contributions to ISAs after more than a certain threshold value had been reached. But as has been pointed out in previous posts , even that's not straight-forward. Although RR did nothing in last year's budget about ISAs except for freezing annual contribution limits, she's even more desperate for funds this year.. 

One of the limits I think you're referring to, that was mentioned the articles you have suggested (This is Money, Fidelity etc.) was from an article Rachel Reeves wrote in 2016 suggesting a £500,000 ISA limit (linked here if anyone wants to read Britain remains addicted to debt and terrible at saving... and this has to change | The Independent | The Independent). Funny thing is this article is aimed at helping people save.

The fact that the ISA allowance has been frozen until 2030 also makes a £100,000 limit (from Resolution Foundation) near implausible as you could hit that before the allowance is unfrozen.

I think these articles are mostly scaremongering as they've picked an article from near 10 years ago because Rachel Reeves wrote it.