#isas

#isas

Michael Summersgill, chief executive of AJ Bell, said months of rolling briefings and hints of a tax raid had prompted thousands of customers to make precautionary withdrawals in September and October, convinced the Treasury was preparing to cap the 25% tax-free pension commencement lump sum. Under current rules, savers aged 55 and over can withdraw up to £268,275 tax-free. Reeves ultimately chose not to touch the allowance, but Summersgill said the period of uncertainty had again shaken confidence.

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

The 2% increase to dividend tax rates, property and savings (raising over £2 billion) presumably breaks Labour's manifesto pledge not to increase Income Tax. The reduction in the cash ISA limit to £12k will cost a higher rate taxpayer over £140 in income tax (assuming interest rate of 4.5% and no personal savings allowance). The ISA regime has just been made (even more) unnecessarily complicated by having a different regime for over-65s. I understand the logic but this is making a mess of ISAs