HMRC ISA reforms to give more flexibility to savers this week

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The Chancellor previously confirmed a number of changes set to hit savers

It comes after Chancellor Jeremy Hunt confirmed that Individual Savings Accounts will face a number of reforms set to be enforced on Saturday, April 6. ISAs are a special type of savings account which offers provides payments free of tax.

However, from April 6 this limit will be removed, allowing savers to take advantage of different offers on the market. It's important to note this does not apply to Lifetime ISAs or Junior ISAs. However, the partial transfer rule is not an obligatory change so if it's something you want in your ISA, make sure your provider allows it.

 

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