Over 65s won't be exempt from 22% tax on cash held in investment Isas despite having unchanged limits

The new 22% tax on cash held in investment Isas affects even those over 65 who still have their full £20,000 allowance, despite limits remaining unchanged. This move is particularly hard on pensioners who rely on their savings for income, as the tax eats into their financial security. The implications could be significant, potentially forcing older adults to rethink their investment strategies and impact their retirement plans. This policy change highlights the need for careful financial planning and understanding of new tax regulations.