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

Reaction to savings policies

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The Lifetime ISA penalty reverts to 25% in April
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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 ...

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