Having been introduced to the Downing Street Petition system by the contaminated manure thread I have decided to start one of my own.
About 20% of my income goes on Council Tax but because I have, what I consider, modest savings I cannot get any relief. Most of my savings are ISAs of various types and I think if they were a truly tax free saving vehicle they would be excluded from all means tested benefit calculations.
I have created a Downing Street Petition on the subject with the following wording :
We the undersigned petition the Prime Minister to make ISAs truly tax free by removing them from means tested benefit calculations.
The value of ISA savings is, for example, part of the capital that is taken into account for Council Tax relief therefore they are not tax free. They should be ignored for this and similar calculations.
Here is a link to it:
http://petitions.pm.gov.uk/TaxFreeISAs/
If you think this has any merit please sign it and pass the link to anybody else you think might also agree. Thanks.
