SteMiS wrote:SteMiS wrote:absolutezero wrote:What do we think will happen to the ISA allowance in Wednesday's budget?
Up? Raised to what?
Down? Cut to what?
Stay the same?
A cap on the value? How much?
I'd be very surprised if there is a cap on value. Personally I don't think much will happen apart from maybe simplying the plethora of different types (junior, help to buy, etc).
So nothing at all really
A clever strategy really. By allowing rumours of a CGT rise to fly around, he probably got some investors to sell their holdings and pay 20% tax in this tax year, out of fear of paying more later. I thought about it myself, but then demurred. Then he barely mentions CGT at all, except to freeze the annual CGT-free allowance.
Likewise any fears of a hike in taxes on dividends, or punitive measures on IHT or ISAs, were also unfounded. The deferred increase in corporation tax is bad for future dividends, but other than that there is nothing much for investors to fear here.
Maybe Rishi is a Tory after all?