Rachel Reeves’s tax shake-up: time to plan ahead, from Isas to self-assessment
The UK government is implementing significant tax changes that will affect savings, investments, and income reporting starting in April 2027. These changes include a reduction in the cash Isa limit and increased tax rates on savings and property income. Experts advise individuals to review their financial strategies now to adapt to these upcoming changes.
- ▪From April 2027, the cash Isa limit for individuals under 65 will be reduced from £20,000 to £12,000.
- ▪Income tax rates on savings and rental income will increase by 2 percentage points starting in April 2027.
- ▪Experts recommend that individuals begin reviewing their financial plans now to maximize their options before the changes take effect.
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The Making Tax Digital shake-up is a new way for sole traders and landlords to report their income. Photograph: Piotr Adamowicz/AlamyView image in fullscreenThe Making Tax Digital shake-up is a new way for sole traders and landlords to report their income. Photograph: Piotr Adamowicz/AlamyTaxRachel Reeves’s tax shake-up: time to plan ahead, from Isas to self-assessmentThe chancellor’s changes will come into force in April 2027, affecting everyone from savers to landlords and sole traders.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Guardian — UK.
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