"Gordon Brown has given savers the green-light to shelter more of their money from the taxman."
ISA limit up £200 to £7200, an increase of a whopping 2.8% since 1999.
If you use up the full £3600 cash ISA allowance then it means you can only invest £3600 in a stocks and shares ISA rather than £4000 as previously.
What a load of rubbish, it should have been raised to at least £8000 in total with a 4000 limit for cash, if not 9 or 10k in total with 5k in cash.
Its a common theme for all his policies, using inflation, especially house price inflation, to gradually erode peoples tax allowances in real terms.
It seems pointless to save anything much over the limits apart from your "lean times fund", anything else may as well go on mortgage overpayments rather than sitting in a taxed account being eaten away by inflation.
ISA limit up £200 to £7200, an increase of a whopping 2.8% since 1999.
If you use up the full £3600 cash ISA allowance then it means you can only invest £3600 in a stocks and shares ISA rather than £4000 as previously.
What a load of rubbish, it should have been raised to at least £8000 in total with a 4000 limit for cash, if not 9 or 10k in total with 5k in cash.
Its a common theme for all his policies, using inflation, especially house price inflation, to gradually erode peoples tax allowances in real terms.
It seems pointless to save anything much over the limits apart from your "lean times fund", anything else may as well go on mortgage overpayments rather than sitting in a taxed account being eaten away by inflation.
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