ISAs

About This Trend

ISAs (Individual Savings Accounts) are a type of savings account in the United Kingdom that allows individuals to save money without paying income tax on the interest earned. They come in various forms, including cash ISAs and Lifetime ISAs, each with its own set of rules and benefits.

The reason ISAs are currently trending is due to recent announcements and discussions by government officials, such as Rachel Reeves, regarding potential changes to the annual limit for cash ISAs and warnings from MPs about Lifetime ISAs leading to poor investment choices, which may result in some savers ending up with less money than they initially invested.