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HMRC has announced it will introduce new rules to stop savers trying to get around the new lower limit for cash Isas. Guidance published on its website said rules will be introduced “to avoid circumvention of the lower limit for cash Isas”.

The rules will include charges on interest paid on cash held in stocks and shares Isas and tests to determine whether money is being held in “cash like” accounts. Currently, people can newly save up to £20,000 annually in cash Isas, stocks and shares Isas, or a mix of both.

But the Government announced in its Autumn Budget that, from April 2027, the annual adult cash Isa limit will be slashed to £12,000. Only over-65s will retain the full £20,000 annual cash Isa allowance.

The annual overall contribution limit into adult Isas will re

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