Individual savings accounts annual subscription limits will be frozen until April 5, 2030.
In the Autumn Budget today (October 30), it was revealed that the limit will remain at £20,000 for Isas, £4,000 for Lifetime Isas and £9,000 for Junior Isas and Child Trust Funds.
In addition to this, it was also noted that the government will not proceed with the British Isa due to mixed responses to the consultation launched in March 2024.
The British Isa was announced by Jeremy Hunt in the Budget in March.
At the time, Hunt had said this would allow an additional annual investment for UK equities with all the other tax advantages of other Isas.
’It’s a relief to see plans for a UK ISA finally dumped on the scrapheap.
But the Labour government later came out and said it had dropped plans for this product, which it confirmed in the Budget today.
Susannah Streeter, head of money and markets, Hargreaves Lansdown, said: ‘’It’s a relief…
