The Clock Is Ticking on Your £20,000 Cash ISA
Most UK savers have no idea the government is about to cut the Cash ISA allowance. From April 2027, if you are under 65, you can only put…
The Clock Is Ticking on Your £20,000 Cash ISA
Most UK savers have no idea the government is about to cut the Cash ISA allowance. From April 2027, if you are under 65, you can only put £12,000 per year into a Cash ISA — down from the current £20,000. The overall ISA allowance stays at £20,000, but the remaining £8,000 must go into investments.
That makes the 2026/27 tax year the last full year to shelter the maximum amount in cash, completely free of tax. On £8,000 earning 4.30% AER, that is £344 in tax-free interest you could lose access to every single year after April 2027.
There is also a transfer ban coming. From April 2027, under-65s will no longer be able to move money from a Stocks and Shares ISA into a Cash ISA. A loophole that many savers were planning to use is being closed.
The best easy access Cash ISA rates right now are above 4.50% AER. Fixed rates from Nationwide are sitting at 4.60% AER for five years. If rates fall later in 2026 as expected, locking in now protects your return.
The full breakdown of what is changing, what to do before the deadline, and the best rates available right now is at Insight HQ.
Read the full guide at Insight HQ →
Originally published at Insight HQ — independent UK personal finance guidance.
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