The cash ISA annual allowance will be cut from £20,000 to £12,000, chancellor Rachel Reeves has confirmed in the Autumn Budget today (26 November).
While speaking in the House of Commons, she confirmed the plans to slash the cash ISA allowance, a change that had been widely touted during the build-up to the Budget. From April 2027, £8,000 of the allowance will be "reserved exclusively for investment", Reeves told MPs. However, those aged over 65 will retain the full cash ISA allowance. Reeves explained that over half of the ISA market, including Hargreaves Lansdown, Vanguard and HSBC, have signed up to provide an online hub to help people invest in Britain. Raisin UK personal finance expert and co-founder Kevin Mountford sa...
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