The Government Is Changing ISA Rules

Buried in the government's autumn statement report today is clarification around all the rule changes for ISA accounts.

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[maxodidily]

I am surprised they didn't mess this up.

[infinitedreams]

Honestly, these all seem like perfectly reasonable changes/updates. The fact that I'm shocked by this says everything about our Government...

[jrlx]

Genuinely shocked that there is good news around ISAs.

[gavjlewis]

5.38 is the big change for me. Always want to dabble in different providers with a bit of fun money but currently having to do it in a general investment account is not as favourable.

[rudolphteperberry]

Nice one Damo. It's one of my biggest fears that the government might make ISA's shitter since my retirement goals are heavily dependant on my stocks and shares ISA. These changes seem positive if anything but also seems like none of them affect me! Thanks for sharing. 👍

[ProductivityACE]

Nice one Damien. I'm around 8-10 years away from retirement and your vids have really helped me get a handle on my financial future. Good luck with it all. And as a part time youtuber myself I appreciate the production quality of your content as well!

[miriamgoodwin]

I totally agree, it would be great to have a Govt Gateway for ISAs and also pensions that helps the user to know how much to invest each tax year.

[shimsteriom]

You lot in the UK are so lucky to have ISA's, don't take them for granted.

[cannontrodder]

The pensions dashboard project should make it far easier to find old pensions. The fact they are tied to your NI number should make it trivial to find them in a register but we are where we are.

[lardyman]

Hi Damo, thanks so much for this video all the scary news coming out about ISAs has really made me worry about where I would be putting my money in the new financial year, what would happen with my fractional shares etc.

Glad that none of the horror stories ended up having any basis in reality!

[mpw]

Thanks for this Damo. There's a more helpful point around paying into multiple ISAs.
Working in banks in the past, people would often put a small amount of money into a fixed rate ISA, then find they couldnt pay in more later.
I've seen cases where someone put £1 in to open the account, then miss the deadline to pay in more. They couldnt open/pay into another cash ISA that year.
The people who made this error were almost invariably older or more vulnerable people.
Personally I think this is a fantastic step forwards

[davidwalsh]

Very good video Damo - sounds like they haven’t done what we all feared - which is great

[finp]

A no bullshit, straight to the point, video explaining what all these things mean and how they affect ISA users. Thanks very much Damien! Also good news that none of the crazy rumoured changes to ISAs actually came true.

[jonathanphillips]

Thank you for the concise and to the point update, of the elements that mainstream media and the likes don't focus on.

[JHBEM]

Well done on being able to bring this out so rapidly and for the easy to digest info.

[moonval]

Great work, Damien. Thank God they didnt cap ISAs at 100k...literally would make me move country. I'm not joking.

[peterfeltham]

I like Damien's presentation very much.Plain english and straight to the point in an easy to understand fashion.

[Tom]

More than one ISA is great, Carol. Partial movements too!
Individuals in 212 and monthly DD to Vanguard for set and forget. Great vid mate.

[mtb]

Quick work Damien, well done.  It's nice to have someone look through the 110 page autumn statement for me. I agree it is a shame that the Govt has not increased the 20k by at least inflation. Didn't the allowance increase automatically by the rate of inflation each year when they started? I have all my ISA money in a self select stocks and shares ISA with one provider. This works for me. Cutting out the management fee's for funds made a big difference to my returns. I re-invest all the dividends that are generated by the shares within the ISA and aim to become an ISA millionaire before I die due to compounding effect. I just need to live a long time. Wasn't there going to be some inheritance tax changes in this Autumn statement or is that being saved for the manifesto? Thanks again.

[lukasg]

I always like to hear this budget news from you. Thanks Damo