They’d not fold existing LISAs into ordinary ones. They’d lock the existing LISAs and stop new ones being opened. So, yet another tax anachronism complicating the tax system.
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They’ll only do it if they have something ‘better’* to announce anyway.
*may not actually be better
Very true. There was talk some years back of them merging ISAs and SIPPs. That sounded great until you realised that they were talking about dropping the tax rebate that SIPPs get and essentially converting the SIPPs into ISAs. So, short term freeing up your SIPP money but at the expense of losing the tax rebate going forward.
Ultimately that actually came out as the pension freedoms of 2015 which was indeed a great thing. In fact, if you’re over 55, a SIPP and an ISA are essentially the same other than the tax rebate that the SIPP gets.
They can do whatever they wish unless it’s irrational and therefore open to a (successful) judicial review. Rolling all the ISAs into a single limit would not be illegal or held to be irrational.
Capping ISAs at 100k, lifting the NI cap and equalising capital gains with income tax have all been floated at some point.
Getting the oldies out picking fruit and picking up rubbish would be my big plan 
How’s about we train the youngsters as bricklayers, plumbers, electricians and carpenters then gather them in teams so they could build their own houses? Back to basics as that’s more or less how today’s building societies started way back.
No, but deducting 20-25% of someone’s account balance certainly would be.
It’s about the FCSC protection. I don’t have a definitive answer and there’s a mixed picture out there….
Scenario:
You’ve placed £140k with a provider who in turn has placed your funds with 3 different banks at say, 80k 40k & 20k
If the ISA provider failed, is all the money covered (ie is it all about the holding bank rather than the middleman provider)?
Discussions on MSE forum suggest it is 
I’d hate to test it out though
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Quite ! 
I’m sure this has come up on the Trading 212 forum but I cannot find it now. If I recall correctly, if T212 fail then you are only guaranteed FSCS protection upto £85k but you should be able to recover all of your funds held with the client banks.
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Yes, some interesting points made there - thanks.
This is a super common misconception. While you would almost certainly be covered, the FSCS is a compensation scheme not a protection guarantee.
There could be circumstances where you do not qualify for compensation, even though this is highly unlikely to ever occur
What would the difference be?
Trading 212 dropping the rate on their Cash ISA to 4.35% wef 1 May 2025.
I suppose they have to find the money from somewhere for the bonus they give new customers 
I’ve just tried a partial ISA transfer to Virgin. Guess I’ll be trying a bit more now.
Virgin are my stepping stone to monument
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I’ve currently got Monument looking at an onboarding glitch with me.
What’s happening with Virgin?
Because Monument do not currently accept partial transfers, I am attempting to transfer a portion of my Trading212 Cash ISA to my currently empty Virgin Money Flexclusive ISA (4.51%, reducing to 4.11% on 19 May).
I will then start a full transfer from Virgin Money to Monument, securing those funds at (currently) 4.76%
Issue I may have though is that T212 was not on Virgin’s pre-defined list of ISA providers and had to be entered under “Other”, so I am not sure how effective this will be.
VM have acknowledged my transfer request, with the usual up to 15 working days timeline.
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I’m not sure if all providers are like this but when I transferred out of Moneybox they told me that if I transfer out that I can never transfer back to them again.
Never transfer back or never open an ISA with them again? Chip said that I wouldn’t be able to open another ISA if I transferred away (not that that stopped me).
That’s either ill-informed advice from an agent or very ill-thought-out policy on the part of the bank.
The ISA market just doesn’t fit into that sort of practice.
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