Written Question·Treasury·UIN 32885
Individual Savings Accounts: Tax Allowances
Tabled: 21 February 2025
Answered: 3 March 2025
Question
Neil Duncan-Jordan
Labour — Poole
To ask the Chancellor of the Exchequer, what steps she has taken to ensure that savers are aware of their tax liabilities in relation to the use of ISAs.
Answer
Emma ReynoldsISAs are tax-free savings accounts, which incentivise individuals to save and invest. An ISA investor does not pay tax on interest, income, or gains received in an ISA and there is no need to declare any ISA interest, income, or capital gains on a tax ret...
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