🇬🇧 FI is awesome 😎
7.8K posts
@GrahamCompton
Financially Independent, Retired Early (FIRE) in the UK. Still building wealth. Experienced and sharing and caring.
Is it too easy to live on benefits? The number of people in long-term unemployment has risen to its highest level in a decade. An expert suggested that this out-of-work trend leads people to rely on benefits rather than work. What do you think?
Important ISA rule changes coming April 2027 (as far as I understand but correct me if wrong). Read this carefully. The total £20,000 ISA allowance stays the same. But if you're aged 18-64 you can only put £12,000 into a Cash ISA. The remaining £8,000 must go elsewhere. There's also a further sting. HMRC will introduce a 20% tax charge on interest earned from uninvested cash held inside a Stocks & Shares ISA. Transfers from Stocks & Shares ISAs into Cash ISAs will also be banned for under 65s. What this means in plain English: → Cash ISA: £12,000 max from April 2027 → S&S ISA: Still £20,000. Untouched. → Uninvested cash sitting in your S&S ISA: Now taxed at 20% on interest earned → Over 65s: Nothing changes The government isn't punishing investors. They're punishing people who use investment accounts as savings accounts. This tax year is the last year you can deposit the full £20,000 into a Cash ISA. If you hold cash in your S&S ISA uninvested. Put it to work before April 2027.
@trevgoes4th @BearJFK My Gen X parents don’t have pensions because they believed their retirement would come from inheritance when both sets of their retired millionaire boomer parents died Both sets are still alive and that money is now going towards their social care. And my parents expect pity🤦🏼♀️
Seniors should not be priced out of a house they already paid for because the area around them got more expensive. They didn’t suddenly get richer because Zillow says the house is worth more. Most of them are living on fixed income, paying higher insurance, higher utilities, higher groceries, and then the tax bill shows up like they somehow got a raise. People can argue all day about how to fund schools and services, and that part does matter. But making older homeowners keep rebuying the same house every year through property taxes is exactly why so many people feel like ownership is never really ownership.
So, if I only increase my cash position in my S&S ISA by £12k a year, I'm complying with the intent of the ISA changes, but I get taxed at 22% of the entire interest earned. Convince me this isn't just a tax grab. What's next?
🚨 NEW: Great British Railways is set to connect more than 1,400 trains to low-Earth satellites to allow "ultra-fast" Wi-Fi speeds of 200Mbps
Rachel Reeves to tax cash held in stocks and shares ISAs in major savings raid gbnews.com/money/rachel-r…
It’s understood Chancellor Rachel Reeves intends to introduce a 22% tax charge on interest earned from cash held within Stocks and Shares ISAs, but it would not apply to UK pensioners aged 65 and over. Expected to come into effect on 6 April 2027.🔍
American Airlines has just officially announced that they are adopting SpaceX's @Starlink! American is the largest airline in the world by passenger volume (225 million), and 2nd in fleet size. Installations begin Q1 2027. Over 500 of its narrowbody aircraft will get Starlink. “As a premium global airline, we are continuously seeking out world-class partners like Starlink to deliver what our customers need and want,” said American Airlines Chief Customer Officer Heather Garboden.
