BirminghamLive WhatsApp<\/a><\/p>\nIt appears these rules will still come into place under Andy Burnham and new Chancellor John Healey.<\/p>\n
Savers aged under 65 will only be able to put up to \u00a312,000 into cash ISAs.<\/p>\n
This will impact households with ISAs which currently have over \u00a310,000 in them.<\/p>\n
Working-age savers are being advised to make the most of the current rate before new rules come into force next April.<\/p>\n
These savers will still be able to put the other \u00a38,000 in stocks and shares accounts – though any interest earned on these accounts will be hit with a 22% charge.<\/p>\n
The aim is to boost the economy by encouraging more investment in stocks and shares.<\/p>\n
Rob Morgan, chief investment analyst at Charles Stanley Direct, said: “From April 2027, the annual cash ISA allowance will be cut from \u00a320,000 to \u00a312,000 for those under 65, while the overall ISA allowance will remain at \u00a320,000.<\/p>\n
“Older savers will retain the full \u00a320,000 cash allowance.”<\/p>\n
Money Saving Expert explained: “Savers who hold cash inside stocks and shares ISAs will be charged 22% on any interest earned on that cash from 6 April 2027, the Government has confirmed.<\/p>\n
“The charge is designed to stop people using investment ISAs as a workaround to hold cash when the cash ISA limit is cut from \u00a320,000 to \u00a312,000 a year for under-65s from the same date.”<\/p>\n","protected":false},"excerpt":{"rendered":"Bank account shake-up will come as a blow to savers 10:32, 01 Aug 2026Updated 15:50, 01 Aug 2026…\n","protected":false},"author":2,"featured_media":723975,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,56,54,55,2932],"class_list":["post-723974","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-your-money"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/723974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=723974"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/723974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/723975"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=723974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=723974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=723974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Andy](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/08\/0_Prime-Minister-Andy-Burnham-Makes-Devolution-Announcement-During-Visit-To-South-Yorkshire.jpg\")
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