Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, what estimate she has made of the (a) number of savers who will exceed the new reduced annual ISA limit and (b) additional revenue from that measure.
Answered by Lucy Rigby
The overall annual ISA limit has not changed and remains at £20,000. Individuals under 65s and subscribing £12,000 in a Cash ISA can still invest the remaining £8,000 in Stocks & Shares and/or Innovative Finance ISAs and up to £4,000 in a Lifetime ISA.
HMRC estimate that 1.3 million individuals aged under 65 subscribed over £12,000 into Cash ISAs based on the latest available data.
The exchequer impact for this measure, combined with other savings measures, has been published (Page 79) in the AB25 Budget policy costing document: Budget_2025-Policy_Costings.pdf
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