ISAs - are they still worth it?
Discussion
The same could be said of almost any cash investment. You can see why classic (and not so classic) cars are piling on the ££s.
BTL less attractive now interest isn't tax deductible.
Interest rates on the floor in ISAs and banks.
No obvious safe(ish) investments.
My ISAs are stocks and shares too - best hope is some price movement (hopefully) upwards and dividends.
BTL less attractive now interest isn't tax deductible.
Interest rates on the floor in ISAs and banks.
No obvious safe(ish) investments.
My ISAs are stocks and shares too - best hope is some price movement (hopefully) upwards and dividends.
One benefit I can see......
"Anyone whose spouse or civil partner died on or after 3 December 2014 is eligible for a one-off additional ISA allowance equivalent to the value of the deceased person’s ISA at the time of death.
As an example, if a person held £50,000 in a cash ISA on death, their spouse or civil partner would be able to make an additional contribution to their ISA of up to £50,000, on top of their own ISA allowance for the year (£15,240 in the 2015/16 tax year)."
"Anyone whose spouse or civil partner died on or after 3 December 2014 is eligible for a one-off additional ISA allowance equivalent to the value of the deceased person’s ISA at the time of death.
As an example, if a person held £50,000 in a cash ISA on death, their spouse or civil partner would be able to make an additional contribution to their ISA of up to £50,000, on top of their own ISA allowance for the year (£15,240 in the 2015/16 tax year)."
Really depends how much money you've got but since the personal savings tax allowance was introduced (April 2016) it effectively negates the savings you would have made by not paying tax on savings in an ISA. As there are now some bank accounts paying better interest rates (5% can be achieved on smaller sums) I would look at using these first before an ISA or traditional savings account.
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