Savers stashed £4.2bn in cash ISAs in October, the largest inflow since the end of the tax year in April, and up from £3.3bn in September.

The Government is to launch a consultation on the future of the Lifetime ISA (LISA) in early 2026, according to documents from yesterday’s Budget report.

In the Budget today Rachel Reeves announced that the amount of cash savings under-65s can put into cash ISAs will be capped at £12,000 from April 2027, with the rest of the £20,000 allowance reserved for investments.

The government is reportedly planning to cut the cash ISA annual allowance to just £12,000 in today’s Budget.

The Budget rumours in recent weeks have sparked a record tax year so far for the number of people paying into SIPPs, stocks and shares ISAs, cash ISAs, JISAs and LISAs from Hargreaves Lansdown.

The number of ISA millionaires has soared to a record high of 5,070, the latest annual figures show.

Over nine in ten  ISAs (94%) with a market value of at least £1m are held in Stock and Shares accounts, according to data from HMRC.

Cash ISA subscriptions rose by 67% to £69.5bn in the 2023/24 tax year, according to new figures released today by HMRC.

ISA provider The Children’s ISA (TCI) has migrated its 126,000 ISA and Junior ISA accounts away from Embark to white label platform provider Quai Digital.

The Treasury Committee has criticised the government for not heeding its warnings that the Lifetime ISA (LISA) required reform.

Half (45%) of savers with a Lifetime ISA opened their account in order to save for retirement or later life.

The number of people inheriting ISAs is climbing quickly with investment provider Hargreaves Lansdown reporting that the number on its platform doing so has risen a third in a year (33%) and more than two thirds in two years (68%).

Three in five UK investors (57%) would consider investing in illiquid assets through Long-Term Asset Funds (LTAFs) when they are allowed in ISAs, according to new research.

The Government will continue to look into reforming ISAs to drive higher levels of investing in the economy, according to Chancellor Rachel Reeves.

The cash ISA allowance is looking unlikely to be cut next week, despite rumours circulating that Rachel Reeves could announce the move in her Mansion House speech on Tuesday 15 July.

More than half of the UK’s financial advisers believe that increasing the ISA allowance above its current £20,000 limit would significantly boost investment in stocks and shares ISAs.

Poor knowledge of investment products could be holding Britons back from achieving their financial goals as new research reveals that almost 1 in 5 people have not heard of a stocks & shares ISA.

More men take out stocks and shares ISAs than women, despite women holding the majority of ISAs, according to HMRC data.

A third of investors (31%) are increasing their ISA contributions to avoid paying additional tax under the Capital Gains Tax changes announced in the most recent Budget, according to new research.

The Treasury Committee has launched a review into the future of the Lifetime ISA.