Rachel Reeves’s ISA raid complicates what is supposed to be a simple product

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

HM Revenue and Customs said several rules will be introduced to ensure the policy achieves its objective.

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

Tax will be payable on cash held in an investing ISA, while the Lifetime ISA is getting a part-fixed rebuild. Karl Matchett explains why the chancellor appears to have missed the…

Under new plans announced by Labour, investors keeping cash in their stocks and shares Isa accounts will be smacked with a 22% tax charge on any interest.

In one of Chancellor Rachel Reeves's last acts before she is set to leave Number 11, she unveiled the tax which will hit those who keep cash in their investment Isas.

Rachel Reeves’s ISA raid complicates what is supposed to be a simple product

From April 2027, savers will no longer be able to transfer money from stocks and shares to cash ISAs