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Forget the Lloyds share price! I think these are the best UK shares to buy in an ISA today

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Investors buying shares in Lloyds Banking Group (LSE: LLOY) remain extremely thin on the ground. Those seeking UK shares to buy after the stock market crash tend to put their money elsewhere. I’m quite encouraged by this as I believe the FTSE 100 bank could end up costing investors a fortune.

The Lloyds share price is down 54% since the turn of 2020 as Covid-19 has hammered the British economy. And I’m tipping it to collapse through the eight-year lows around 25p hit in recent weeks too as signs of a second wave of infections grow.

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Even if the news flow surrounding infection rates improves, Lloyds finds itself in significant peril. Low interest rates have crushed profitability at the FTSE 100 bank over the past decade. The Bank of England will need to maintain doveish policy well into the next decade following Covid-19, too. Meanwhile this UK share faces a murky revenues outlook as the domestic economy splutters. A new Reuters poll suggests that Britain won’t recover from the current downturn for at least two years.

Better buys than the Lloyds share price

Why take a chance with the Lloyds share price, then? And especially when there are so many other top UK shares going cheap following the stock market crash? Here are a couple of top British stocks I’d rather buy for my own ISA today:

  • Alliance Pharma trades on a forward price-to-earnings (P/E) ratio of below 15 times right now. And this makes it a great value buy for those seeking to ride the trend of rising global healthcare demand. This UK share owns and licences the rights for almost 100 medical products all over the world. What’s more, unlike other pharmaceutical manufacturers like GlaxoSmithKline and AstraZeneca, Alliance acquires products that have already gone through the gruelling and often expensive development process. This saves it from having to endure costly launch delays, unexpected costs and other R&D problems.
  • Tate & Lyle is another top pick for those seeking bargain UK shares after the crash. Firstly it sports a very-reasonable forward P/E multiple of 14 times. And secondly it carries a huge 4.2% dividend yield for this fiscal year. Unlike Lloyds, food producers like this are unlikely to suffer significant earnings strain amid this severe economic downturn. And I’m encouraged by the rate at which new product sales at this particular foodie are expanding (up 9% in the second quarter of 2020) as well as progress concerning its product mix.

More cheap UK shares to help you get rich

The stock market crash has created a wealth of top UK shares like these trading for next to nothing. And by browsing The Motley Fool’s huge library of exclusive reports you can discover even more cut-price quality stocks that could help you get rich. So forget about Lloyds and go bargain hunting with the experts instead.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Alliance Pharma, GlaxoSmithKline, and Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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