AJ Bell: The British ISA is a bad idea

Simplification is more urgent

Investment platform AJ Bell has warned the ISA regime stands to benefit from greater focus on simplification over the addition of further complexity, arguing the Great British ISA risks causing “more harm than good”.

Tom Selby, director of public policy at AJ Bell, questioned the technical details of a GB ISA and highlighted research that suggested the proposed product could potentially fall foul of the regulator's new Consumer Duty rules. Quilter calls for simplification as Labour backs GB ISA proposals "Independent research commissioned by AJ Bell shows that, when presented with the choice of a British ISA and a Stocks and Shares ISA for their first subscription of the tax year, more people chose the British ISA (35%) than the Stocks and Shares ISA (26%)," Selby said. "Given investors could acce...