Taxpayers have reached out to HMRC seeking clarity over a £20,000 rule. Taking to X, formerly Twitter, one taxpayer asked HMRC, the Labour Party government's tax arm, if there was a cap on the amount they could transfer from their SAYE scheme.

The taxpayer asked if it was limited to £20,000 annually. They also asked HMRC whether there was an option to sell the shares once transferred, which would then let them to withdraw the cash and reset their ISA allowance.

This means they could make another £20,000 transfer from SAYE into an ISA. Save As You Earn (SAYE) is a savings-related share scheme where you can buy shares with your savings for a fixed price.

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You can save up to £500 a month under the scheme. At the en

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