Tax-free Isas allowance is set to be raised to help boost UK firms and make it ... trends now
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The Chancellor could increase the tax-free Isa allowance to make it easier for ordinary people to invest in British companies.
Under current rules, adults can save £20,000 a year into Isas – Individual Savings Accounts – without being taxed.
There are several types of account – such as cash-only or for stocks and shares – but experts believe the system is too complicated.
Jeremy Hunt is reportedly considering offering an additional tax-free Isa allowance strictly for money invested into companies listed on the London Stock Exchange (LSE).
It comes after Treasury officials spent weeks in consultation with experts in the City discussing ways to unlock extra funding from millions of accounts, the Financial Times has reported.
Jeremy Hunt is reportedly considering offering an additional tax-free Isa allowance strictly for money invested into companies listed on the London Stock Exchange
It comes after Treasury officials spent weeks in consultation with experts in the City discussing ways to unlock extra funding from millions of accounts, the Financial Times has reported
Another idea being looked at is to create an Isa that would allow holders to keep both cash and stocks in the same account.
A shake-up could be announced as soon as the Autumn Statement in November.
The news would be a boon
