Chancellor could unveil major ISA reform in Autumn Statement - reports

Chancellor likely to relax existing rules

Jenna Brown
clock • 2 min read

Chancellor Jeremy Hunt could announce significant changes to the ISA regime in the Autumn Statement on 22 November.

In a report on Wednesday (8 November), The Telegraph suggested existing ISA rules could be relaxed from April next year to allow savers to pay into multiple ISAs of the same type in a single year without affecting their £20,000 allowance. The report explained that ministers expect the changes to encourage providers to offer more competitive rates and help consumers make more in tax-free interest. Provider AJ Bell has campaigned for reform and simplification of the savings product to boost access and usage. It explained the current rules mean people can open multiple ISAs in a tax year...

To continue reading this article...

Join Investment Week for free

  • 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
member?

Login

More on UK

Peel Hunt: FTSE SmallCap index could cease to exist by 2028
UK

Peel Hunt: FTSE SmallCap index could cease to exist by 2028

UK M&A report

Valeria Martinez
clock 03 April 2024 • 2 min read
UK shop price inflation drops to two-year low in March
UK

UK shop price inflation drops to two-year low in March

Lowest since December 2021

clock 02 April 2024 • 1 min read
Bank of England's Jonathan Haskel: Rate cuts are a 'long way off'
UK

Bank of England's Jonathan Haskel: Rate cuts are a 'long way off'

Voted to hold in March

clock 28 March 2024 • 1 min read
Trustpilot