Rachel Reeves’ ISA tax raid could be her final own goal as chancellor (opens original article in a new tab)

New UK ISA regulations introduce a 22% tax on interest from cash in investment ISAs and replace Lifetime ISAs with a new First Time Buyer ISA, creating complexity and criticism from financial experts.

• New ISA rules impose 22% tax on interest from cash in stocks and shares ISAs starting next year.
• Lifetime ISA will be replaced by a new First Time Buyer ISA with a £450,000 property price cap.
• Changes include removing penalties for using cash outside rules but reducing government bonus for ISA contributions.