An ISA is a tax-efficient savings account that allows you to earn interest without paying tax on it. Currently, individuals can contribute up to £20,000 per tax year into a Cash ISA.

However, The Chancellor has confirmed in the Autom Budget that the cash ISA limit will be reduced to £12,000 a year from April 2027.
You will no longer be able to transfer money from stocks and shares ISAs and innovative finance ISAs into cash ISAs

Exclusions:
• Taxpayers Aged 65 or older
• Stocks & shares ISAs or to innovative finance ISAs