BREAKING: A New ISA is Coming!

A New ISA is launching, is this a good, or bad thing?

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[philzvids]

If they wanted us to invest in British companies, they could have scrapped the 0.5% stamp duty on UK share purchases. Or am I missing something? (Novice here).

[dtlittle]

Like you touched on. For me, I think it’s just an extra avenue to maybe have a “side” UK dividend portfolio. Even if the fees aren’t great, they’ll most likely be cheaper than paying capital gains tax outside of an ISA/SIPP wrapper (fortunate enough to max ISA & Pension contributions).

[rob_h_]

People forget that there is good opportunity within the UK. I can remember 15 or so years ago when everybody wanted to avoid/minimise exposure to the US.

[TopazDr]

international (US and tech heavy) growth stocks in usual ISA 20k allowance, then dividend heavy UK in British ISA and start to build up now my future passive income stream on this tax free fund. Great

[mrlolmaster]

at least they are not removing foreign stocks from the isa, which is what i heard yesterday

[davidcollier]

Many thanks for explaining what these are and I'm glad you'd worked it all out ... I won't be getting one😊

[avgaz]

Great video, however, this is not confirmed for April 24, the consultation lasts until 6 June 24, likely something we will see implemented in 25/26 tax year. I'll certainly set one up if I can invest in MMFs and other cash-like funds only after maxing out Pension and S&S ISA, UK stocks just don't have the appeal they once had.

[mandregomes]

nice summary, but I think it would help having some headings or bullet points along the video...

[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 ?

[kevinthomas]

initial impression, if they are trying to help small uk businesses - fail, if they are trying to help new investors - fail. Rich people have an extra place to park cash I guess. Changes to LISA could help people a lot.

[Kaizen]

UK ISA on its own is ok proposal but unveiling it while consciously ignoring the problems around the LISA is a bit alarming (though its not just limited to it). As you mentioned - its starting to get complicated with all the different types of ISA products and most of them are going too niche for providers to care enough about them.

[jay]

do you think an ETF portfolio split between sp500 etf, growth etf and dividend etf is a good idea?

[anjux]

Decent brokers will charge holding fees, dealing charges, and then there’s stamp duty…how much will anyone make in the first year on 5000 after these?…though it may be useful for the wealthy to reduce their tax liabilities. 5000 put in your usual GIA, in a US growth etf is likely to do much better…

[SteveyHam]

Good to see the Yes Theory getting represented!

[andymcall]

Thanks for the informed update Chris, great video.

I was only confused at the child benefit section where you mentioned a couple earning 50k and 10k wouldn't get any child benefit...

My understanding was that if either of you earn 60k+ then it's zero, but 50 and 10 separately should be fine... Doesn't it reduce by 1% for every £100 above £50k you earn, regardless of what your partner earns... Or have I heard that wrong?

[stephentree-jc]

Are they still going to allow multiple ISA of the same kind to be opened from April 5th? ie you can open a S & S ISA with IV and T212

[infour]

I’m applying for the new AIRSA. This will entitle me to a tax free quantity of air that I shall breathe with alacrity in the full knowledge that come the next financial year I shall be chipped and taxed on my use of air. Thus from this moment on I shall regrettably have to conserve all my air, hot or otherwise 😉 😂

[Abdul_Rahman]

I’m way below the tax free threshold. I literally only invest £1k per month into a global index fund. I doubt this UK ISA will match the returns of the global economy. It’s going to take a lot of convincing to get me to invest into it. If someone can get me a good argument maybe I’ll consider

[MrTech]

The UK ISA is under consultation and not set in stone, so may not be available in April 24.

[alanevans]

I won't invest anything into UK shares.