Investors flock to ISAs amid fears of Autumn Budget CGT hike

Rise in maxed out allowances

Investment platforms have reported significant rises in the number of clients either increasing their contributions to their ISAs, or maxing out their £20,000 annual allowances ahead of the Autumn Budget on 30 October.

Hargreaves Lansdown and AJ Bell told Investment Week there has been a marked increase in activity among their ISA clients. HL reported a 39.6% rise in the number of investors maxing out their Stocks & Shares ISAs in the current tax year compared to the previous one. Similarly, AJ Bell said that in September alone there had been a 47% increase in ISA subscriptions and the number of Bed and ISA transactions has doubled compared with September 2023. UK finances near 'breaking point' ahead of Budget with public borrowing £1.5bn higher than OBR forecasts Such a phenomenon has also be...