Isas vs tax-free savings allowance

From April you will no longer be taxed on a large portion of savings, so do you need to bother with Isas?

cash money

From April you’ll be able to enjoy tax-free returns on a large chunk of cash savings, regardless of whether they are in a Isa. So, is there any point continuing to use your ISA allowance?

The dawn of the new tax year on 6 April brings big changes that seriously undermine the unique usefulness of your Isa. The new personal savings allowance means basic-rate taxpayers can earn up to £1,000 in interest on their savings each year before they have to pay income tax. Higher-rate taxpayers can earn up to £500.

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