People over the age of 50 will see their tax-free Isa savings allowance increase next week.
The changes were announced in last April’s Budget and come into force for the over-50s on 6 October. The new thresholds will apply for everyone else from next April.
The changes will see the annual cash Isa allowance increase from £3,600 to £5,100, while the stocks and shares Isa allowance will rise from £7,200 to £10,200. You can transfer existing cash Isas to stocks and shares Isas but not vice-versa
Isas allow you to shelter your savings from tax. To find the best cash Isa rates see our Best Buy cash Isa tables.
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