Investment platform AJ Bell has reiterated its call for ISA simplification and urges for pension tax stability in the upcoming Autumn Budget.
The firm said it believes combining Cash and Stocks and Shares ISAs in a single tax wrapper could reduce complexity and encourage savers to invest. It referred to His Majesty's Revenue and Customs figures which indicate around three million people hold £20,000 or more in a Cash ISA but have no Stocks and Shares ISA. AJ Bell has warned that if chancellor Rachel Reeves made changes to pensions tax rules, it would introduce complexity for pension savers, employers and HMRC, providing a "disincentive for people to save for their financial later life". Instead, it has urged Reeves to pr...
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