The government is changing the rules around cash ISAs and launching a new first-time buyer ISA - but is it all becoming a bit too much for people to get their heads around?

HMRC has revealed plans for the UK’s new ISA regime, which will see it tax interest on cash held in stocks and shares ISAs at 22 per cent

Savers using the new ISA will not be hit by the same penalties for withdrawal as with the Lifetime ISA

Treasury also promises a new first-time buyer Isa with no upper age limit, as the ‘age at which a first home is bought is rising’

Rules will be introduced to prevent people subscribing up to £20,000 cash in a non-cash Isa and leaving it there long-term, earning tax-free interest

The levy is to prevent savers from getting around new cash ISA limit rules, which will see the annual cash ISA limit cut from £20,000 to £12,000 for under-65s

The First Time Buyer ISA would give savers a bonus when purchasing their first home, similar to how the Lifetime ISA works

The government has confirmed it is replacing the hotly debated Lifetime ISA with a new product aimed solely at first time buyers

The government is changing the rules around cash ISAs and launching a new first-time buyer ISA - but is it all becoming a bit too much for people to get their heads around?

The cash ISA allowance cut is just one of many rules coming into force