Andy Burnham new 22 per cent charge under cash ISA shake-up

NewsCost Of LivingYour MoneyNew cash ISA rules will impact millions of households09:04, 31 Jul 2026Some savers will be hit with a new 22% charge under major changes to cash ISA rules.‌The tax-free ISA limit is being cut £20,000 to £12,000 for under-65s from next year in a blow to savers.‌Households will instead be encouraged to invest in stocks and shares ISAs.‌READ MORE: Andy Burnham new £300 charge for drivers of these popular modelsGet breaking news on BirminghamLive WhatsAppBut a 22% charge will be placed on interest earned from these accounts.‌These measures were drawn up by former Chancellor Rachel Reeves and are being inherited by Andy Burnham and new Chancellor John Healey.They are set to come into force in April 2027.‌Pensioners are being protected from ISA changes and will still