New UK ISA Explained | British ISA

New UK ISA Explained | British ISA

In this week's Government Spring Budget, Jeremy Hunt, our chancellor of the exchequer announced plans for a new "UK ISA / British ISA". Let's go through all the things you need to know.

The UK ISA / British ISA focuses on investing in UK businesses and will soon be made available to UK investors. This came as one of many announcements in the 2024 Spring Budget, which occurred this Wednesday just past.
As a quick summary an ISA or Individual Savings Account, are a type of account available in the UK that allows individuals to save or invest their money. Why these accounts are so popular? That's because the main benefit of an ISA is that you don't have to pay any tax on any of the interest, dividend or capital gains you earn.
Now there are several types of ISAs within the ISA family and they include
- Cash ISAs
- Stock & Shares ISAs
- Innovative Finance ISA
- Lifetime ISA
- Junior ISAs
and now, they have one more added to the list: the UK ISA.

Chapter Information (New UK ISA Explained | British ISA):
0:00 Introduction
0:26 ISAs Recap
1:30 UK ISA (British ISA)

DISCLAIMER: Any advice or statements perceived to be advice given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice.
You are fully responsible for your financial decisions. If you are in need of any Financial Advice, please seek out a professional advisor. If you are unsure of how to do this, please feel free to reach out to me and I am more than happy to guide you.

#ISA #BritishISA #UKISA

[SC-rqub]

How do most of you guys still making profit? Even with the downturn of economy and ever increasing life standards

[groMMit]

How long until British ISAs start becoming available?

[samsungdiscx]

1. Have opened one ISA account in HSBC ( LOY_ISA_Adv) ( In OCT 2023) and deposited 20000.00 GBP and withdraw 5000.00 GBP in March 2024 ?

2. I opened one more Cash ISA in NatWest in March 2023 and deposited 20000.00 GBP

3. Have opened one more ISA account and deposited 20000.00 GBP and withdraw all amount in one day in Halifax .

Here my question is can i have any tax issues or penalties from HMRC as i have two ISA accounts with 20000.00 GBP amount in each account ?

Requesting for your kind advice

[jellyboy]

it would be better if they could make a 50/50 isa where it has 100 of the top US and 100 of the top UK shares i don’t see people going for UK ISA it has bad performance