ISA limit increase branded a 'trick' to claim more cash

clock

The Treasury's move to increase ISA limits is nothing more than a ploy to raise revenue, a high profile IFA warns.

Premier Wealth Management managing director Adrian Shandley believes the motivation behind the Chancellor’s ISA adjustment is purely based on collecting more from consumers, by encouraging people to transfer from cash to unit linked ISAs. Shandley is speaking in response to two reports released by Treasury economic secretary Kitty Ussher MP earlier this week, in which she noted the Government's ISA tax incentives have been “successful” in encouraging savings. But Shandley says the Government wants to shift the balance to unit linked ISAs, as the cash component offers far greater tax rel...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read