General · 23 June 2026
HMRC's new ISA rule: 22% tax on cash savings
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