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  • oh yeah fuck cash ISAs, with 4.2% inflation you would be losing money on those

    Wut?

    no youre not... If you make any profit, its not going to be taxed... thats an immediate 20% profit... Or am i missunderstandig it?

  • thats an immediate 20% profit...

    I think its more like a 20% extra on your profit when you think about it, not on capital. So at the end of the day (year), still less than inflation.

    On another note. All this chatter about ISAs... Correct me if Im mistaken, you only need to consider this if youre about to exceed your capital gains tax free allowance (£12300) in a given tax year, right?

  • Correct me if Im mistaken, you only need to consider this if youre about to exceed your capital gains tax free allowance (£12300) in a given tax year, right?

    true. but you "use it or lose it" with ISAs. if you have been saving for a number of years +/- you do achieve a significant return over that one year, you will be kicking yourself if the money isn't within an ISA wrapper

  • Depends exactly how those returns are coming about. Interest has an allowance of £1,000 down to £0 for high earners (those taxed at 45%).

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