US EditionSavers facing ‘long-term threat’ to cash Isa limits following spring statement
- Chancellor Rachel Reeves did not introduce changes to cash ISAs during the Spring Statement, but the government is exploring future reforms related to them.
- Cash ISAs currently allow savers to deposit £20,000 tax-free each year, but there are concerns about potential cuts to this limit.
- A survey by Nottingham Building Society found that 41% of 25 to 34-year-olds said a reduction in cash ISA limits would impact their ability to save for a home.
- Richard Fearon and other experts voiced concerns over the long-term implications of reducing cash ISA allowances, emphasizing the need for balance.
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List of top cash ISAs to open NOW as Rachel Reeves hints at big rule change
SAVERS should make the most of their hard-earned cash and open a cash ISA now as Rachel Reeves hints at a major change. Cash ISAs let you earn interest and withdraw money tax-free making them a much better option than regular savings accounts. GettyCash ISAs let you earn interest tax-free[/caption] You can currently deposit up to £20,000 into one each tax year, with the deadline to top up for 2024/25 just days away – April 5. But Spring Statemen…
·United Kingdom
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The IndependentReposted by 
perspectivemedia.com
perspectivemedia.comSavers facing ‘long-term threat’ to cash Isa limits following spring statement
Spring statement documents said the Government is ‘looking at options for reforms’ to Isas ‘that get the balance right between cash and equities’.
·London, United Kingdom
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