General · 8 hours ago
New ISA rules bring 22% tax on some cash savings from April 2027
Working-age savers will face a 22% charge on interest earned from cash held in stocks and shares ISAs from April 6, 2027. The tax is intended to prevent individuals from exploiting investment ISAs as a loophole once the annual cash ISA limit decreases from £20,000 to £12,000. Pensioners over 65 will keep their £20,000 cash allowance, protecting them from these changes.
Reported by Birmingham Live · How we write briefs