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Martin Lewis has issued a warning to anyone with savings following the announcement of two taxes in Chancellor Rachel Reeves' Autumn Budget.

One of the biggest announcements was the confirmation that Cash ISA's tax-free allowance has been slashed from £20,000 down to £12,000.

Taking to X, the finance guru said: “There are big changes coming to savings. All of these happen in April 2027. The big one is that the Cash ISA threshold will be cut, from you being allowed to put in £20,000 per tax year to you being only allowed to put in £12,000 per tax year.

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“The shares ISA will stay at £20,000, which will mean from that point you’ll be able to put in £12,000 into a Cash ISA and the remaining amount into shares.”

Mar

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