The tax-free product would have allowed people to invest up to £5,000 in UK companies.
The Government is reportedly set to ditch plans for a British ISA.
The product would have given people an extra £5,000 tax-free allowance that could be invested in UK equities on top of the existing £20,000 ISA allowance.
Labour initially said in the run-up to the election that it had no plans to scrap the ISA, but a Government official has reportedly told the Financial Times that it was “not planning to complicate the ISA landscape any further.”
It’s worth noting that the Government has officially said no final decision has yet been made.
Government ‘deserves huge credit’ for scrapping British ISA
The product has long attracted fierce…
