Most of the Budget attention in regards to saving was focused on cash ISAs - but another announcement could also dent your cash

Rachel Reeves finally confirmed big changes to cash ISAs following months of speculation - but this isn't the only Budget announcement that could impact savers.

The rate of tax paid on savings interest is rising from April 2027. Basic-rate taxpayers can earn £1,000 in savings interest every year before they start to pay tax. This is known as your personal savings allowance.

The tax rate is 20% on savings interest above this amount - but this will increase to 22%. You pay tax on the savings interest you earn above this threshold.

If you were to save your money in the current top rate easy-access savings account, which is around 4.5%, you would need to hav

See Full Page