Personal finance expert said anyone under a certain age will be hit by new restriction

Martin Lewis has explained a major change for anyone under the age of 65 who has cash ISAs. The personal finance expert said new rules brought in by Chancellor Rachel Reeves will have a big impact on the amount of money people can put into the popular savings accounts.

Currently, people can put up to £20,000 extra each year into the account and not be taxed on any interest. However, in last week’s Budget, Ms Reeves changed the rules for anyone under the age of 65.

Mr Lewis 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 allowed to only put i

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