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Rachel Reeves’ ISA overhaul could have 'opposite effect' on investing, expert warns

Summary by IFA Magazine
Millions of Brits’ savings accounts would be affected by Chancellor Rachel Reeves’ ISA overhaul as savers holding cash within Stocks and Shares ISAs will soon face a 22% tax charge on interest earned from cash holdings, marking a shift away from what has long been a tax-free promise. The changes, due to take effect from April 2027, have sparked concern among savers and investors who have long relied on ISAs as a simple, tax-efficient way to buil…

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The Independent broke the news in London, United Kingdom on Wednesday, June 24, 2026.
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