💨 Abstract

Martin Lewis warns that the £20,000 tax-free savings limit for cash ISAs could be reduced to £4,000 in 2025, potentially as soon as the Autumn Budget. Chancellor Rachel Reeves is evaluating cash ISAs. The change could encourage people to invest in shares ISAs instead, but many may continue saving and pay more tax. Currently, 7.9 million Brits use cash ISAs.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖