Those of us who have been putting away what they could since ISA (then PEP's) were created, are now using the result of 30 years of effort and sacrifice, to supplement an abysmal state pension. We do not have "broad shoulders", for the government to gouge out.
Isn’t that the point. State pension isn’t supposed to give you a great retirement, it’s supposed to keep you warm and fed in a house you should now own outright with the occasional trip to bingo etc. You want a more luxurious retirement then save more money during the course of your working life.
@@JD-ny9qj That's exactly the point @travelledfar is making, and the result of it is Labour now going after people like them who DID save to provide for THEMSELVES in retirement.
They don’t care about the poor or the just managing. I never expected to be living in fear of switching the heating on or worrying about the cost of food we are in our 70s we thought we were going to live in peace in our final days. Now we fear losing our hard gotten savings. This won’t lift this country up, and it won’t get it back on its feet either. What it will do is cause a huge exodus of people who can live cheaper in countries where the elderly are respected. The Millionaires are already leaving in their droves.This Government is clueless. They are going to crush the life out of Britain till we have nothing left. It feels like we are existing in a nightmare that we can’t wake up from. Someone needs to step in and stop this Government, if not we are all doomed.😢
@@user-Tortured-soul And this unfortunately is their end game .... All western world govt are turning the screw a little more each year " Crushing the life & wealth out of all middle & working classes. USA ' UK Canada ' Australia. All working to the same script. Google the WEF .All the info is there for us to see And every major world govt is involved. It's all by design. This is no accident. And we cant vote our way out of it 1984 Mr George Orwell. This is the dystopian future weve Been awaiting the last 60 /70 years . And its now coming to reality for the masses. God help us all 🙏
The UK government will do as instructed by the World Economic Forum. They are not incompetent, far from it, they are following orders. Being called out as incompetent provides them with an excellent excuse for what they are doing.
I think we are going to find out in the next few months that this is part of a move against savers and retired people. They could have gone the other way and properly financially incentivised investing in Britain.
Going after those who haven’t lived beyond their means, worked hard and saved and are not mega rich is totally unfair. Look at Susan Gray on £170k and countless others. Total hypocrisy.
They need to leave the average guy alone because we are struggling like crazy already thanks to their greed and incompetance , I think they shoudl leave the isa alone , we paid tax on the way in so should NOT pay tax on the way out. However IF they decide to do anything it should be to limit the amount that could be put in each year and perhaps an upper limit on the amount that can held is isas overal, I'm not talking £100k either, thats not enough for a retired person to live on, but if you have more than a million maybe that the time you could afford to pay a little tax maybe. But personally it should be left alone imho, we need to encourage saving and investing for retiremnt because the state pension clearly is on rocky ground.
I don't know what Labour have planned in their budget, but Starmer has already said it's going to be very painful. I'm just bracing myself for him and Reeves to come after any wealth I've managed build up over many years so they can give it away to other people.
@UKGeezer That worries me too. As Margaret Thatcher said 'the problem with socialism is you eventually run our of other people's money'. We live in worrying times.
It was a daft idea anyway - would have been so much easier to just add the £5k to the existing allowance and let people invest how they like. A few thousand people a year sticking extra £5k into British stocks would have made no difference overall to the uk economy.
They never ever have had the average British citizens best interests " ....its always been about how much they can take from anyone who has saved & been sensible 😮.... And re distribute this wealth to any newcomers to the Uk. Its called Socialism 😮 AKA the first cousin of communism. Remember " You will own nothing but you will be happy. C .Schwabb WEF
Government's need to look at getting uk products and utilities back and stop given hundreds of millions to tata steel and similar crap .if we started looking after our own first the uk might stop this slide
People don’t use it because they can’t afford it! They can’t afford savings! They are just about surviving or suffering. Many are living from hand to mouth! It’s ridiculous to assume everyone can afford to pay into an ISA!
Likewise, a pension. I'm 62 and never had enough to pay into a private pension. Luckily, this current band of thieving bastards won't get what I don't have.
@@Jack_Warner He should step down asap! Starmer is worse than Blair and Brown! Starmer is King John who robbed everyone with taxes and the government gets rich and everyone else gets poor! Is that the society we want for the UK? Everyone poor, even the poor will be taxed and they don’t even know till what they buy is three times more than before! It’s a total scam…he even scraped the Rwanda bill which would have helped with the immigration problem and stop people wanting to come to the UK. And France is having a laugh on us by sending their refugees to the UK!
If they try to tax our isas that we have saved into for years sacrificing along the way there will be an uproar. I never went down the pension route because I was self employed and the tax advantages were not that big in my case, and who knows what changes will be make to drawing down pensions tax wise, the isa was a simple and easy way to save even though i had to pay tax on the way in , the zero tax on the way out sounded better to me. However I can see that the gov obviously want to keep us all poor as possible and keep us working till we drop so will no doubt raid out isas anyway.
🇬🇧 is going nowhere fast! Companies will leave the FTSE and we'll wonder what happened in 5-10yrs time. A decline is coming and it's a shame. No long term planning by any government.
The British ISA was a great idea, it was not complicated. People are free to make choices, good or bad, and that is not scary. Hopefully the Labour gov don't mess with ISAs, this is a long e.g. multiple decade or lifetime structure.
It was better when we have PEPs. The ISA now is too complicated with many subtle rules or practices by provides that put people off. I can see the allowance being cut next year to force more money into taxable investing and saving for those people who currently invest or save large amounts in their ISA - diolch yn fawr iawn.
The £20k ISA allowance hasn't been increased since the 2017-2018 tax year - no, it hasn't but it was increased from £15,240 in 2016-17 to £20,000 in 2017-18, which was way above the inflation rate (and there had been inflationary increases in prior years). My guess is that if £15,240 had been increased by inflation each year since 2016-2017, then it would be pretty close to the £20k we have today. Looking at it another way, the past few years have been a bonus period for those who could afford to fill their ISA every year and we are just getting back to the inflation-adjusted level that we were at 7 or 8 years ago.
If investing in British companies means better economic growth for Britain, which in theory will benefit everyone, why not use part of the tax relief in pension contributions for that (even for say only 5 years up to age 55)? Maybe in return, tax on pension income be lowered (this will be off set by the tax from the economic growth)? Sure it may not be as straightforward as I hope but worth looking into. 🤔
Because most wanted shot of the shower that had been in government for the previous 14 years. The tories took the p*** and the people will never stand for that!
Not increasing the ISA allowance will be okay with most ISA people. But, if they start taxing ISAs in anyway then people will pull their money and instead pay off their mortgages, or invest in assets that are harder to tax, fine wine, art, etc.
When I do retire I was intending to invest my DB lump sum in ISAs I will seek further advice prior to this and will be watching the budget closely, like many others I suspect. I can only afford €25.00 a month which I have been investing in stocks I note the American stocks I have been investing in, in particular defence such as Lockheed Martin do very well with British stocks performing much less…. Thank you for these videos very helpful!
At this time, take advice carefully. Remember Gordon Brown, NO MORE BOOM OR BUST, just bust, bust bust. The Shares I had at that time in Lloyds have never recovered their face value, equally there has been no dividend either - how long ago was that. TAKE CARE. We are in troubled times.
I’ve often wondered how / why the Revenue know how many ISA millionaires there are; why given ISA’s are exempt from tax (for now at least) watch this space 🤨👍
ISA managers report contributions and values of ISA holders all categorised by your NI number. So the revenue know EXACTLY what’s going on with your ISA. It may be tax exempt but they want to make sure you are not over contributing.
Having the rules clarified, im really unsure why investment platforms complained. The US has done everything to ensure money flows their way to the detriment of the FTSE. Brexit hasnt helped either. With the right financial incentive, people would naturally invest back into the FTSE even if it was just £5k although I accept most people don't use anywhere near the current £20k limit. needs to be done before more large companies exit in favour of bigger returns in the US market. Having over 60% invested in the US is not what I would call being globally diversified
@@petermorris3665ahhhh. I hadn't appreciated that. I thought it was going to be as part of the £20k hence why the investment platforms complaining it would make things more confusing. Thanks for clarification - ive edited my original note based on your clarification 👍
A good move by the government binning something completely useless to the vast majority of ISA holders. Perhaps something better will come from it and clean up ISAs.
Investing is blatantly gambling.....whilst providing coffers to investment companies. This can have adverse effects on people's livelihoods and financial security. So no thanks on my part. Investing is too risky for my liking.
With risk comes reward. Low risk deposit accounts or Govt bonds only just keep up with inflation over time. Medium risk equity FTSE100 investments have returned an average 8%pa over the 1992-2024 period. Slightly higher risk equity FTSE250 investments have returned an average 11%pa over the same period. If you spread the risk using collective investment Funds or Trusts, where a professional manager decides on the investments to hold, you can get similar returns. This is a must, as your average person saves 15% of their wage each year into a pension, which at the average wage of £35k is £5.25k pa, or £210k over a 40yr working lifetime. Using an annuity with inflation provision, you'd get about £10.5k pa pension income, which is not enough to live on.
Well enjoy inflation eroding your savings in your bank account if you actually have any that is ;-) Inflation is a stealth tax also government’s love inflation as it erodes the value of government debt
Some ridiculous comments on here. First of all, investing in the stock market is not gambling. Far from it. Buying into a diversified ETF every month over the long term (at least 10 years, preferably more) has consistently proved to provide decent returns. Sure it goes down sometimes, but over the long term you’ll make good money. As has been said, this is investing not trading. Secondly, investing £5,250 each year (as in the example above of 15% of the median income) over 40 years with an average return of 8% (which is conservative) would actually yield £1.5 million at the end, not £210k. And if you earn £35k per year, I reckon you can comfortably retire with a £1.5M pot. No wonder people are skint!
Or maybe she's exploring the reality of having a socialist government. They're going to want more of our hard-earned money to squander on lazy pond-life. Taking winter fuel payments from pensioners and giving it to well paid militant train drivers shows the kind of vile government we have now.
Those of us who have been putting away what they could since ISA (then PEP's) were created, are now using the result of 30 years of effort and sacrifice, to supplement an abysmal state pension. We do not have "broad shoulders", for the government to gouge out.
Isn’t that the point. State pension isn’t supposed to give you a great retirement, it’s supposed to keep you warm and fed in a house you should now own outright with the occasional trip to bingo etc. You want a more luxurious retirement then save more money during the course of your working life.
@@JD-ny9qj That's exactly the point @travelledfar is making, and the result of it is Labour now going after people like them who DID save to provide for THEMSELVES in retirement.
Means-tested pension incoming!
They don’t care about the poor or the just managing. I never expected to be living in fear of switching the heating on or worrying about the cost of food we are in our 70s we thought we were going to live in peace in our final days. Now we fear losing our hard gotten savings. This won’t lift this country up, and it won’t get it back on its feet either. What it will do is cause a huge exodus of people who can live cheaper in countries where the elderly are respected. The Millionaires are already leaving in their droves.This Government is clueless. They are going to crush the life out of Britain till we have nothing left. It feels like we are existing in a nightmare that we can’t wake up from. Someone needs to step in and stop this Government, if not we are all doomed.😢
@@user-Tortured-soul And this unfortunately is their end game ....
All western world govt are turning the screw a little more each year "
Crushing the life & wealth out of all middle & working classes.
USA ' UK Canada ' Australia.
All working to the same script.
Google the WEF .All the info is there for us to see
And every major world govt is involved. It's all by design.
This is no accident.
And we cant vote our way out of it
1984
Mr George Orwell.
This is the dystopian future weve Been awaiting the last 60 /70 years .
And its now coming to reality for the masses.
God help us all 🙏
The UK government will do as instructed by the World Economic Forum. They are not incompetent, far from it, they are following orders. Being called out as incompetent provides them with an excellent excuse for what they are doing.
I think we are going to find out in the next few months that this is part of a move against savers and retired people. They could have gone the other way and properly financially incentivised investing in Britain.
I agree. If you work hard, save and are honest you are penalised.
Going after those who haven’t lived beyond their means, worked hard and saved and are not mega rich is totally unfair.
Look at Susan Gray on £170k and countless others. Total hypocrisy.
They need to leave the average guy alone because we are struggling like crazy already thanks to their greed and incompetance ,
I think they shoudl leave the isa alone , we paid tax on the way in so should NOT pay tax on the way out.
However IF they decide to do anything it should be to limit the amount that could be put in each year and perhaps an upper limit on the amount that can held is isas overal, I'm not talking £100k either, thats not enough for a retired person to live on, but if you have more than a million maybe that the time you could afford to pay a little tax maybe.
But personally it should be left alone imho, we need to encourage saving and investing for retiremnt because the state pension clearly is on rocky ground.
I don't know what Labour have planned in their budget, but Starmer has already said it's going to be very painful. I'm just bracing myself for him and Reeves to come after any wealth I've managed build up over many years so they can give it away to other people.
Yep, but doing nothing to really help those in low paid jobs.
@UKGeezer That worries me too. As Margaret Thatcher said 'the problem with socialism is you eventually run our of other people's money'. We live in worrying times.
It was a daft idea anyway - would have been so much easier to just add the £5k to the existing allowance and let people invest how they like. A few thousand people a year sticking extra £5k into British stocks would have made no difference overall to the uk economy.
They never ever have had the average British citizens best interests " ....its always been about how much they can take from anyone who has saved & been sensible 😮....
And re distribute this wealth to any newcomers to the Uk.
Its called Socialism 😮
AKA the first cousin of communism.
Remember " You will own nothing but you will be happy.
C .Schwabb
WEF
Government's need to look at getting uk products and utilities back and stop given hundreds of millions to tata steel and similar crap .if we started looking after our own first the uk might stop this slide
Badly thought of ISA by the last government. Complicating ISas even more. No evidence it would support British business. Keep it simple.
People don’t use it because they can’t afford it! They can’t afford savings! They are just about surviving or suffering. Many are living from hand to mouth! It’s ridiculous to assume everyone can afford to pay into an ISA!
Likewise, a pension. I'm 62 and never had enough to pay into a private pension. Luckily, this current band of thieving bastards won't get what I don't have.
@@Jack_Warner He should step down asap! Starmer is worse than Blair and Brown! Starmer is King John who robbed everyone with taxes and the government gets rich and everyone else gets poor! Is that the society we want for the UK? Everyone poor, even the poor will be taxed and they don’t even know till what they buy is three times more than before! It’s a total scam…he even scraped the Rwanda bill which would have helped with the immigration problem and stop people wanting to come to the UK. And France is having a laugh on us by sending their refugees to the UK!
I am a retired toilet cleaner and managed to save for. Isa , for a better tomorrow,
@@raymondwebb4179 I know but do you have a family of 5 to bring up and put food on the table?!
@@laurawalker6431 Probably lived with his Mum until she died.
If they try to tax our isas that we have saved into for years sacrificing along the way there will be an uproar.
I never went down the pension route because I was self employed and the tax advantages were not that big in my case, and who knows what changes will be make to drawing down pensions tax wise, the isa was a simple and easy way to save even though i had to pay tax on the way in , the zero tax on the way out sounded better to me.
However I can see that the gov obviously want to keep us all poor as possible and keep us working till we drop so will no doubt raid out isas anyway.
🇬🇧 is going nowhere fast! Companies will leave the FTSE and we'll wonder what happened in 5-10yrs time. A decline is coming and it's a shame. No long term planning by any government.
The British ISA was a great idea, it was not complicated. People are free to make choices, good or bad, and that is not scary. Hopefully the Labour gov don't mess with ISAs, this is a long e.g. multiple decade or lifetime structure.
Labour are against every vechicle that gives an opportunity to avoid tax.
It was better when we have PEPs. The ISA now is too complicated with many subtle rules or practices by provides that put people off. I can see the allowance being cut next year to force more money into taxable investing and saving for those people who currently invest or save large amounts in their ISA - diolch yn fawr iawn.
The £20k ISA allowance hasn't been increased since the 2017-2018 tax year - no, it hasn't but it was increased from £15,240 in 2016-17 to £20,000 in 2017-18, which was way above the inflation rate (and there had been inflationary increases in prior years). My guess is that if £15,240 had been increased by inflation each year since 2016-2017, then it would be pretty close to the £20k we have today. Looking at it another way, the past few years have been a bonus period for those who could afford to fill their ISA every year and we are just getting back to the inflation-adjusted level that we were at 7 or 8 years ago.
If investing in British companies means better economic growth for Britain, which in theory will benefit everyone, why not use part of the tax relief in pension contributions for that (even for say only 5 years up to age 55)? Maybe in return, tax on pension income be lowered (this will be off set by the tax from the economic growth)? Sure it may not be as straightforward as I hope but worth looking into. 🤔
Why people ever vote Labour I never will understand 🙄🙄
Because most wanted shot of the shower that had been in government for the previous 14 years. The tories took the p*** and the people will never stand for that!
Not increasing the ISA allowance will be okay with most ISA people. But, if they start taxing ISAs in anyway then people will pull their money and instead pay off their mortgages, or invest in assets that are harder to tax, fine wine, art, etc.
When I do retire I was intending to invest my DB lump sum in ISAs I will seek further advice prior to this and will be watching the budget closely, like many others I suspect. I can only afford €25.00 a month which I have been investing in stocks I note the American stocks I have been investing in, in particular defence such as Lockheed Martin do very well with British stocks performing much less…. Thank you for these videos very helpful!
At this time, take advice carefully. Remember Gordon Brown, NO MORE BOOM OR BUST, just bust, bust bust. The Shares I had at that time in Lloyds have never recovered their face value, equally there has been no dividend either - how long ago was that. TAKE CARE. We are in troubled times.
I’ve often wondered how / why the Revenue know how many ISA millionaires there are; why given ISA’s are exempt from tax (for now at least) watch this space 🤨👍
ISA managers report contributions and values of ISA holders all categorised by your NI number. So the revenue know EXACTLY what’s going on with your ISA. It may be tax exempt but they want to make sure you are not over contributing.
Having the rules clarified, im really unsure why investment platforms complained. The US has done everything to ensure money flows their way to the detriment of the FTSE. Brexit hasnt helped either. With the right financial incentive, people would naturally invest back into the FTSE even if it was just £5k although I accept most people don't use anywhere near the current £20k limit. needs to be done before more large companies exit in favour of bigger returns in the US market. Having over 60% invested in the US is not what I would call being globally diversified
I thought that the British ISA allowance was going to be extra on top of the current 20K allowance?
@@petermorris3665ahhhh. I hadn't appreciated that. I thought it was going to be as part of the £20k hence why the investment platforms complaining it would make things more confusing. Thanks for clarification - ive edited my original note based on your clarification 👍
Hello Dianne, are you aware your website link doesnt work?
Thanks - it’s back online now - it was down for a day
I wouldn't invest in British companies personally.
It is my view that the £ come March 2026 will be worthless, ISAs will be of no value and the Bank guarantee scheme will not be honoured.
it will always be guaranteed. BoE will simply print more money - exactly what they & the US fed have done time & time again
What will be the cause?
Gosh ,not very optimistic are we .
It’s so annoying as I can see this going down and we are restricted from buying crypto in our pensions :-(
World debt reset@@UTD1989
Bitcoin is the ultimate answer.
A good move by the government binning something completely useless to the vast majority of ISA holders. Perhaps something better will come from it and clean up ISAs.
Yep, I wouldnt even be surprised if the Tories never really believed it will see the light of day anyway.
Investing is blatantly gambling.....whilst providing coffers to investment companies. This can have adverse effects on people's livelihoods and financial security. So no thanks on my part. Investing is too risky for my liking.
With risk comes reward. Low risk deposit accounts or Govt bonds only just keep up with inflation over time. Medium risk equity FTSE100 investments have returned an average 8%pa over the 1992-2024 period. Slightly higher risk equity FTSE250 investments have returned an average 11%pa over the same period. If you spread the risk using collective investment Funds or Trusts, where a professional manager decides on the investments to hold, you can get similar returns.
This is a must, as your average person saves 15% of their wage each year into a pension, which at the average wage of £35k is £5.25k pa, or £210k over a 40yr working lifetime. Using an annuity with inflation provision, you'd get about £10.5k pa pension income, which is not enough to live on.
Think you’re confusing day traders with long term investors. I research companies to invest in and then hold their stocks for the long term
Well enjoy inflation eroding your savings in your bank account if you actually have any that is ;-) Inflation is a stealth tax also government’s love inflation as it erodes the value of government debt
You do you
Some ridiculous comments on here.
First of all, investing in the stock market is not gambling. Far from it. Buying into a diversified ETF every month over the long term (at least 10 years, preferably more) has consistently proved to provide decent returns. Sure it goes down sometimes, but over the long term you’ll make good money. As has been said, this is investing not trading.
Secondly, investing £5,250 each year (as in the example above of 15% of the median income) over 40 years with an average return of 8% (which is conservative) would actually yield £1.5 million at the end, not £210k. And if you earn £35k per year, I reckon you can comfortably retire with a £1.5M pot.
No wonder people are skint!
I have noticed you like to scare people and sow doubt in minds,probably so
the like of yourselves will get people to panic and use your service.
Nothing scary in this vid😂
Or maybe she's exploring the reality of having a socialist government. They're going to want more of our hard-earned money to squander on lazy pond-life. Taking winter fuel payments from pensioners and giving it to well paid militant train drivers shows the kind of vile government we have now.
The fact that you think her videos are scary…are scary. Numpty
If you think these videos are scary then you’re exactly the type of person that would benefit from her advice
@@jennyli7749 I don't recall asking for your opinion,so fuck off.
Badly thought of ISA by the last government. Complicating ISas even more. No evidence it would support British business. Keep it simple.