ISA industry sits tight over reforms January 25
Next Wednesday, January 31st, sees the deadline for discussion of the government’s proposed reforms – and there is considerable uncertainty about what will come to pass thereafter.
Peter Shipp, technical director at Pima, told Investment Week that a swift announcement after the deadline would benefit the industry.
He said: “At this point, we are unsure whether new ISA rules will be implemented on April 6th 2007 or April 7th 2008 and this leaves the industry in a state of flux wondering when the new rules will apply.”
Proposed reforms announced in December included an extension of the ISA system beyond 2010, scrapping the distinction between mini and maxi ISAs, an overall investment limit of at least £7,000 and the ability to transfer cash into equities without worrying about yearly subscription limits.
Written Exclusively by AdFero for ISA Guides
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