Spring Budget 2021: ISA limits unchanged as Sunak focuses on other priorities

Reaction to savings policies

The Lifetime ISA penalty reverts to 25% in April

The Lifetime ISA penalty reverts to 25% in April

All the action in today's Budget 2021 lay elsewhere as the small print revealed ISA annual subscription limits remain unchanged for 2021-22.

The current £20,000 limit for adult ISAs will continue into the next tax year, as will the £9,000 maximum contribution to Junior ISAs and Child Trust Funds. The Budget also made no mention of the Lifetime ISA penalty, which reverts to 25% in April. Nathan Long, senior analyst, Hargreaves Lansdown said: "The government's decision not to extend the reduction to the Lifetime ISA withdrawal penalty is bizarre and hugely disappointing. "The risk of people having to unexpectedly access their savings is as high now as it was when they first introduced the reduction back when the pandemic ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment

Recession will be the main focus in Q3

How to invest in a recession

Mild recession already priced in

clock 11 August 2022 • 4 min read
All the latest from the world of ESG investing

ESG Blog: UN secretary urged governments to impose windfall tax on 'immoral' energy companies

Round-up of ESG coverage

Investment Week
clock 04 August 2022 • 1 min read
The extraordinary general meeting (EGM) will take place on Friday 5 August.

Trian 1 story continues as shareholders call for support ahead of extraordinary general meeting

'Not fit for purpose'

clock 26 July 2022 • 4 min read