The Individual Savings Account (Amendment) Regulations 2026
Consultation description
A technical consultation is taking place on draft legislation which will deliver the Government’s decision to set the annual Cash ISA subscription limit for investors below the age of 65 at £12,000 from 6th April 2027. For investors aged 65 or over the annual Cash ISA limit will remain at £20,000.
The draft Regulations amend the Individual Savings Account Regulations 1998 (the ISA Regulations). To ensure the new Cash ISA limit is not circumvented it also: provides that transfers from a stocks and shares (S&S ISA) or innovative finance ISA (IF ISA) to a Cash ISA are prohibited where the account holder is below the age of 65; defines investments deemed to be ‘cash like’ for the purposes of the Regulations and provides restrictions on their holding; and introduces a charge on any interest paid on cash held in a S&S ISAs and IFISA.
The technical consultation will be of interest to those savers with Individual Savings Accounts and financial institutions who provide or manage these accounts or investments.