Savers are preparing for drastic changes in Chancellor Rachel Reeves’s Budget as the tax-free allowance linked to ISAs is expected to be nearly halved from £20,000 to £12,000.
It is understood the Treasury is floating the policy change to encourage households to invest in the UK stock market, however critics claim it is a stealth tax on those saving their hard-earned cash.
If implemented, savers would be at risk of becoming more liable for tax. Will you end up paying more to HM Revenue and Customs (HMRC)?
Should the ISA tax-free allowance fall to £12,,000?
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