Today’s Autumn Budget confirmed that the government will reduce the Cash ISA limit from £20,000 to £12,000, effective from April 2027.
This change will not apply to savers aged 65 and over, who will retain the current £20,000 Cash ISA limit.
Autumn Budget 2025: changes to Cash ISAs
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What does this mean for you?
Currently, you can save up to £20,000 tax-free each financial year in an ISA. This can be entirely in a Cash ISA or split across different types. For the tax year 2026/27, you’ll still be able to take full advantage of your £20,000 tax-free ISA allowance, whether in a Cash ISA or across other ISA types.
While we’re disappointed to see the Cash ISA limit reduced, £12,000 per year remains a substantial allowance for most savers. We’re also pleased that those aged 65 and over will continue to benefit from the full £20,000 limits - a welcome concession for our older members.”
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Can we help?
If you have any questions about your ISAs, visit your local branch or book a savings appointment.