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Stocks & Shares ISAs Are No Longer Completely Tax-Free - Government Plans To Tax Uninvested Cash
Description
What do you make of this new '22% tax on uninvested cash in Stocks & Shares ISAs'?
To be transparent and up front, the full details are still not known. Once we do know the full and final details, I will release another episode.
But I still think it's worth putting this out to make you aware of this coming change and so you have as much time as possible to take any potential actions that you need to.
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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.
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Timestamps:
0:00 - What happened?
0:52 - What is the ISA change?
2:55 - Who does this impact?
5:28 - How much money will this raise?
6:41 - Why this change is pointless (2 main reasons)
9:40 - What about ISA transfers?
10:23 - How to encourage investing
12:07 - What practical things should you do now
15:38 - My honest thoughts