Chancellor Rachel Reeves announced major changes to ISAs in the autumn budget

The Government has provided an update for savers who will be affected by cuts to the ISA allowance . Chancellor Rachel Reeves announced in the Autumn Statement that the ISA allowance would be reduced for certain savers.

Now a Treasury minister has confirmed that more details will be announced in the coming months. Currently, you can put up to £20,000 annually into ISAs, which can be divided between cash ISAs and stocks and shares ISAs. However, from April 2027, the sum you'll be able to place into cash ISAs will be capped at £12,000 per year.

You'll still receive the remaining £8,000 allowance, but this must go into stocks and shares accounts. The fresh rules won't affect those aged 65 and above, who wil

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