Anyone who’s had any dealings with government bureaucracy in ‘the land of the free’ will know that it makes our own dear benefits system look like a Janet and John book (kids etc). Holding a US passport means you must complete a US tax return and pay US tax wherever you live; Eritrea is, astonishingly the only other country with such draconian rules. Investment companies here now have to report any US investors to the US, even those who are also UK citizens. So most won’t take them on and are, sort-of politely, asking those they have to take their business elsewhere. Eritrea, perhaps? No, that wouldn’t help much.
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
