The Treasury is yet to publish the rules governing next year's Isa changes as Citywire reports.
This is apparently a matter of discussions between ISA providers and the Treasury.
Relatedly, the Telegraph suggests that its expose of a loophole where an investor could place just 1p in the stock market and keep the rest in cash is the reason for the delay.
Anyway, this is MoneyHelper discussing the rules from next year. Someone needs to get a move on.
“For people under 65, the cash allowance will be capped at £12,000. People aged 65 and over will still be able to hold up to £20,000 in cash if they prefer. The cash cap only applies to the cash ISA. You can still put your full £20,000 annual allowance into a stocks and shares ISA or innovative finance ISA if you prefer.”
I do think this from David Combes of Rathbones is very interesting. Writing in Money Marketing, the head of multi-asset investments at Rathbones Asset Management gives several interesting observations about markets and asset prices. Here is an exceprt.
“Assets that were often relied upon for shelter in the past have failed to provide it recently. Software businesses that had thrived on capital light models suddenly faced uncomfortable questions about rising investment requirements, pricing power and employment.
“By contrast, companies tied to the physical infrastructure behind new technologies – energy networks, power equipment, specialist hardware and raw materials – have been far more robust.”
FTAdviser reports that several industry experts have warned that Andy Burnham’s leadership challenge could have a negative impact on mortgage borrowers as, when Burnham’s candidacy was announced, 10-year gilt yields hit their highest level since 1998, briefly touching 5.137 per cent.
Financial advisers who may have been hesitant to prepare for the IHT changes have been warned not to expect an inheritance tax on pensions U-turn from any potential candidates should the UK get a new prime minister.
Professional Adviser offers that opinion. The alternative view might be that if a new Chancellor decided to avoid this headache by, say, levying a flat charge on the pension, then that might make things easier.
Research by Hymans Robertson has shown that under a matched-contribution structure, younger employees could potentially wait more than a decade to save for a deposit, while a fixed employer contribution structure could shorten that timeline by several years. Corporate Adviser reports.
Generative AI is creating major new risks for financial services firms that are becoming harder to govern as AI becomes embedded across operations and the wider financial system.
This is according to a new report from the London Foundation for Banking and Finance (LFBF) and the Institute and Faculty of Actuaries (IFoA). Again, Corporate Adviser reports.
Average fixed rate mortgages fell last week, according to Moneyfacts, and reported by
The average two-year fix fell 5bps to 5.68% compared to last week, with the typical five-year deal falling 3bps to 5.63%, the latest Moneyfacts rate watch shows and Mortgage Strategy reports.
