ISA reforms: Complexity risks undermining government's investment ambitions

ISAs should be one of the simplest and most trusted savings vehicles in the UK. But that status is now under pressure. Following last year's Budget decision to reduce the maximum subscription to a cash ISA for under-65s to £12,000 from 6 April 2027 the government has set out further anti-avoidance measures aimed at preventing savers from using stocks and shares ISAs as a cash shelter. The policy intent is clear enough. Government wants to encourage more people to move beyond cash and invest for the longer term, hopefully creating better outcomes for households and greater participatio...