Isas will be taxed for the first time in one of Rachel Reeves’s final acts as Chancellor.
Savers who hold cash in their stocks and shares Isas will soon be clobbered by a 22 per cent tax charge in a brutal betrayal of the tax-free Isa promise.
The Treasury announced last night it will introduce a new tax to punish savers for holding cash in these accounts from April 2027.
The attack on Isas, which are popular due to their tax-free perks, has sparked fury among the financial industry as experts have branded the fresh rules ‘draconian’.
Plus, the tax-free guarantee of these accounts has now been ‘undermined’, leading financial insiders have told This is Money and the Daily Mail.
