Jeremy Hunt just announced an additional £5k Brit ISA for investing in UK only, I assume this means we can use ETFs such as FTSE 100 or FTSE 250 ETFs, if so please please please Invest Engine let use do this on Invest Engine
There is no timeline on when this will be introduced but is highly unlikely to be available for the new tax year on April 6th
Hi there, it looks like this won’t be implemented until the 2025-26 tax year. Further details on this are yet to be released, so we’ll be sure to provide an update in the near future.
I’m guessing this might exclude FTSE 100 companies, given their international footprint. Perhaps The 250 or even AIM might be the focus. That said 5k is relatively insignificant. Perhaps The Chancellor should have scrapped stamp duty on share transactions instead.
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This will be a faff. Just like a LISA.
Adminstrative costs will be high and not many will offer them for just 5k to be invested. Probably only high cost platforms like HL.
It seems really poorly thought-out on all fronts frankly. I’d be surprised if they were to find a way to effectively target genuine “UK” investment rather than “UK registered” investment.
Tbh if you have £25,000 to invest in a year I’m not sure the government should be encouraging people to put it into mid-caps rather than EIS and SEIS.
See this going to way of the Innovative Finance ISA - I do actually have one of those but they never became mainstream.