Written Question·Treasury·UIN 32899
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, whether she is taking steps to reduce the Cash ISA allowance.
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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