With savers potentially facing tax charges on cash held in stocks and shares ISAs, investment experts have urged Chancellor Rachel Reeves to reconsider the reforms. The recent Budget reduced the cash ISA allowance to £12,000 while maintaining the stocks and shares limit at £20,000. Experts have voiced concern that temporary cash holdings could lead to tax bills, undermining the purpose of ISAs. Jason Hollands from BestInvest said that a tax on cash would “negatively impact investors.” He suggested a time limit for cash holdings to alleviate concerns, while Camilla Esmund from Interactive Investor echoed the need for clear guidelines.
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