Rachel Reeves Urged Not to Tax Cash Held in Stocks and Shares ISAs
UK chancellor pushes for no tax on cash in stocks and shares ISAs amid budget changes.
On 13 January 2026, Chancellor Rachel Reeves urged that cash held within stocks and shares ISAs remain untaxed, following Budget reforms that lowered the ISA allowance. Savings providers and City representatives met HM Revenue & Customs in London to discuss the new rules, which now cap the annual ISA contribution at £20,000 from £25,000. The meeting aimed to address concerns that savers would face higher tax bills and to negotiate exemption for cash held in existing ISAs. Reeves also highlighted that the change is a targeted response to the UK’s inflationary pressures and aims to encourage long‑term investment.
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