New cash ISA limit for those turning 65 during the tax year

m_c_s

Chaotic policy from a chaotic government but who knows what will happen. Less than 12 months now left and we have no clue about the detail of this. Also we still have no detail on the "cash like" stocks and shares ISA policy.

AJ Bell put out a note today:

https://www.ajbell.co.uk/news/five-key-tax-and-savings-policies-new-prime-minister-could-revisit

They seem to think it will all be abandoned but I am not so sure.

To quote AJ Bell:

"But this approach is doomed to fail, as the government has been told repeatedly by the industry tasked with implementing the changes. AJ Bell research shows two-in-five (40%) Cash ISA holders do not believe the impending cut to the allowance will encourage people to invest. On top of this, the changes will add horrendous complexity to Stocks and shares ISAs, with government expected to apply an onerous set of rules on investors over unproven fears people might otherwise circumvent the new Cash ISA allowance.

A new PM could pull the plug on these unpopular and ill-thought-out reforms, and instead concentrate on better ways to encourage more people to make the jump from saving to investing."