Autumn Budget: Rachel Reeves told to scrap ‘not fit for purpose’ Lifetime ISA Personal Finance Chancellor Rachel Reeves has been warned that the Lifetime ISA (LISA) is “not fit for purpose and must be reformed” in the Autumn Budget. Tom Goddard, a senior associate at audit, tax and business advisory firm Blick Rothenberg, has argued that the LISA “must be reformed to not conflict with shared ownership schemes”. The LISA [...]
Millions of savers to face ‘hidden tax burden’ Economics Millions of Brits will face a ‘hidden tax burden’ this year, fresh HMRC data has revealed, as thousands more are set to pay tax on the interest from their savings. Over 3.35m people are projected to be taxed on savings interest in 2025 – where the interest earned on savings exceeds the tax-free allowance and [...]
Reeves warned ‘undermining cash ISAs a serious mistake’ Investing Chancellor Rachel Reeves has been warned that “undermining” cash ISAs would be a “serious mistake” and could hike the cost of mortgages and make them harder to access. Skipton Building Society has joined the chorus of institutions voicing their concerns ahead of the Chancellor’s Mansion House speech next week where she is expected to announce a [...]
Revolut: UK fintech launches stocks and shares ISA July 8, 2025 Digital banking juggernaut Revolut has expanded its investment offering into stocks and shares ISAs for UK customers. The Canary Wharf-based firm will offer its new ISAs, along with over 100 UK-listed exchange-traded funds, through its investing arm Revolut Trading. Revolut will offer fund managing titans such as Blackrock, Amundi and Vanguard for the ETF platform, [...]
Rachel Reeves’ cash ISA plans would ‘choke mortgages’ July 3, 2025 Rachel Reeves’ plans to slash the tax-free cash ISA allowance “would be effectively choking mortgage availability” for those who need them the most, a building society’s CEO has said. Darlington Building Society was reacting to the news that the Chancellor is set to announce a lowering of the current £20,000 cap that savers are allowed [...]
Apps to help you manage your money June 17, 2025 Apps can help you budget, save and invest. The right one for you will depend on the features you’re after, your needs, and what you’re willing to spend. Are you looking to spend more responsibly, save up for a goal or simply get some insight into your financial habits? Luckily, there’s an app for that. [...]
Cash ISAs: Record £14bn piled in after rumoured cut from Reeves June 2, 2025 A record £14bn was put into cash ISAs in April as the new tax year kicked off, fresh figures from the Bank of England show, marking the highest amount since April 1999. The ballooning savings follow speculation over the fate of cash ISAs amid rumours of a cut to the allowance. In the Spring Statement [...]
Moneybox: Savings and investment platform gears up for possible IPO May 12, 2025 Savings and investment platform Moneybox is gearing up for a potential initial public offering (IPO) as it bolsters its boardroom with a new hire. The fintech has made a major signal it is working towards becoming a public company in the future with the appointment of Melissa Birge as an independent non-executive director. Birge has [...]
Cash ISA savers missing out on billions with low-interest accounts March 25, 2025 According to Paragon Bank research, millions of savers keep money in Cash ISA accounts paying two per cent or less. Figures from Paragon reveal that £54bn is held in such low-interest Cash ISAs. Cash ISAs remain hugely popular with savers as a low-risk option for their money, with any interest earned free of tax. Around [...]
Stocks and Shares ISA inspiration from the experts March 12, 2025 As part of City AM's series on ISAs, we asked Camilla Esmund, senior manager, interactive investor to gather some Stocks and Shares ISA inspiration from the experts.