There’s a lot of changes that savers will need to understand further to the Budget as Rachel Reeves took a hammer blow to the cash ISA limit.

As of April 2027, it will be cut to £12,000 for anyone under the age of 65 – but that’s not the only thing savers have to worry about.

The amount of tax you’ll pay on your savings interest will also be hiked by two percentage points at the same time. Taxpayers will pay 22 per cent, 42 per cent and 47 per cent tax on their savings interest depending on if they’re on the basic, higher or additional rate. New Feature

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But, it’s not all gloom. Savers at least have a chance to make the most of this valuable allowance for the next year and a half.

And, as the changes will not apply to the over-65s

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