Could ISA Caps Threaten Your Wealth Building Strategy

While nothing is confirmed, the mere mention of this has already sparked a lot of anxiety among savers and investors. If you are using your ISA as part of your wealth building strategy you could find yourself restricted losing one of the best tools for tax free growth. Imagine this for instance. Let's say some people have been taking full advantage of their ISA allowance for several years, let's say 10 years. So let's say you've been taking advantage of your £20,000 and it's 9,000 for Junior Isa. If you've been doing this for 10 years you could already have about £200,000 or a bit more not even considering the investment growth that could push it higher. So we've already seen some ISA millennials in the country already in the UK but if labor caps the ISAs or maybe introduces some sort of capital gains tax on the growth of the isa, let's say above a million pounds that might also restrict your ability to grow your ISA tax free.