Which?
Is your Isa allowance going to be cut by 80%?
Mar 20, 2025
Join Jenny Ross, the Money Editor at Which?, and Sarah Coles, Head of Personal Finance at Hargreaves Lansdown, as they dive into the buzzing concerns about potential cuts to your ISA allowance. They unravel the tax benefits of ISAs, providing tips to maximize your savings amidst rising interest rates. Learn the ins and outs of stocks and shares ISAs, including how to navigate investment platforms. Plus, they tackle common myths and offer essential consumer advice to help you make informed financial decisions.
31:55
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The potential cut of the ISA allowance from £20,000 to £4,000 highlights the importance of maximizing tax-efficient savings strategies.
- Stocks and shares ISAs offer growth potential for long-term investors, balancing higher risks against the chance for better returns compared to cash ISAs.
Deep dives
Importance of ISAs
Individual Savings Accounts (ISAs) are popular for their tax-efficient features, allowing individuals to save up to £20,000 each year without incurring tax on interest or gains. The appeal lies in their ability to provide a safe haven for savings, especially in times of rising tax bills and increasing interest rates. As interest rates fluctuate, cash ISAs have gained significant popularity, providing a valuable tax-free option for savers looking to protect their earnings. However, there are discussions around potentially reducing the ISA allowance, which has raised awareness of their significance in personal finance.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
