General · 23 June 2026
HMRC's new ISA rule: 22% tax on cash savings
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Savers who keep money as cash inside investment ISAs could pay tax on interest under planned rules. HMRC confirmed measures due from April next year that also stop under-65s moving non-cash ISAs into cash ISAs and block fully cash-like holdings. Industry groups said the proposals add complexity and may discourage people from investing, while a consultation will take place before legislation.
Reported by City AM · How we write briefs