Isas

[woolleysheep]

should they be stopped as they only benefit the better off

[emeritus]

Can you be more specific about why you think that ?

[hc4361]

They benefit anybody who pays income tax and has a bit of money to save, not just the 'well off'.

[SlackAlice]

define "better off"

[Baldric]

Should we stop making Rolls Royce 'cus only the better-off can afford them?

[emmie]

no they don't..

[woolleysheep]

if someone had invested the maximum amount since they started they would now have a nice untaxed nest egg

[Baldric]

And the problem is?

[vetuste_ennemi]

"if someone had invested the maximum amount since they started they would now have a nice untaxed nest egg".
Do you find that objectionable, Woolleysheep. If so, why?

[sandyRoe]

Wooley sheep wants to fleece the rich ?

[woolleysheep]

it would help with the other austerity measures, we are all in it together so they say- every little helps

[Nibble]

If you have the means & income to make use of the maximum contribution to your isa, then, IMO, well done, as the personal paying in to an isa is a personal financial transaction, and absolutely nothing to do with me, you, or anybody else - except for HMRC & their accountants.

[emmie]

why would it?

[emmie]

help with the austerity measures that is..

[Baldric]

^^^^^^^ Do you work for Tesco? ^^^^^^^

[emmie]

who ^^

[Nibble]

I've earned the right to spend/save my income as I see fit, and nobody can naysay against it, as long as I've paid all taxes and other charges relevant to the ammount required by law..

[Baldric]

em, tho OPer, using the phrase //every little helps//

[SlackAlice]

Isa's benefit everyone especially Tax payers. I agree that if you had invested the maximum amount in an ISA since their inception (1999?) then you would be sitting on about £45000.
But, if you can only afford a small amount you still get the interest tax free and it's all yours.

[Baldric]

Touch of the 'Green eyed Monster' I suspect!

[Connemmara]

I am not au fait with much knowledge of ISAs but do have them but have been extremely with the interest - I think I looked on my online account an hour ago and if I have read correctly they were only 0.5% interest. If that is correct you would be better putting your money under the mattress