Autumn Budget: Reeves announces changes to Cash ISAs

Cash ISA savers are being urged to consider alternative options for their money as a cut to limits to just £12,000 has been announced by Rachel Reeves today.

In her Autumn Budget, the Chancellor has today announced a long anticipated and much feared cut to Cash ISAs, despite objections from prominent financial campaigners like Martin Lewis.

Under the new rules, savers will still be able to put £20,000 a year into tax-free ISAs like they can now, but Cash ISAs will be limited to just £12,000, instead of the full £20k. Those wanting to use the full £20k allowance will have to put the other £8,000 into a Stocks and Shares ISA instead.

The new rules will take effect from April 2027 but will not affect existing deposits. But state pen

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