The Autumn Budget announced important changes to ISAs from April 2027. Key points:
– The yearly subscription limits (£20,000 adult ISA, £9,000 Junior ISA) will be frozen until April 2031.
– From April 2027, the maximum cash ISA subscription will be £12,000 for under-65s.
– New restrictions will apply to stocks and shares ISAs, excluding ‘cash-like’ funds such as money market funds.
– A new ISA for first-time buyers saving for a deposit is planned — once available, the Lifetime ISA (LISA) will be withdrawn.
As the tax year end approaches, make sure you get advice about how these planned changes could affect your choice of plan.
