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The Guardian - UK
The Guardian - UK
National
Rupert Jones and Shane Hickey

Millions of savers and investors to face higher tax bills after Reeves’s budget

Rachel Reeves drinks from a white cup and holds a saucer after delivering her budget speech; Wes Streeting and Keir Starmer are in the background, also with cups of tea. Reeves wears a pale cream blouse with a long tied bow at the neck.
No cup of tea? Rachel Reeves’s shake-up includes a lower limit on annual cash Isas and a cap on salary sacrifice pension schemes. Photograph: Adrian Dennis/AP

Measures that will mean higher tax bills for millions of savers and investors were unveiled by the chancellor as part of her budget statement.

Alongside two widely trailed measures – cutting the maximum that can be put into a cash Isa each year and clamping down on salary sacrifice pension schemes – were two surprises: an exemption from the new Isa rules for those over 65, and an increase in income tax on savings interest and property and share dividend income.

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