Different ways to get tax-free savings amid concerns Chancellor could cut cash ISA benefit Cash ISAs have come under fire with Chancellor Rachel Reeves being called to make savers put more money into investments.
Cash ISAs are the most traditional form of savings account on offer and allow savers to not pay any tax on the interest earned through the account, as opposed to standard savings accounts.
Individual Savings Allowance (ISA) accounts are a special type of savings account that allow people to put cash away each year without paying any tax on the savings.
Cash ISAs take on the most traditional savings account approach with their chief purpose allowing savers to not pay any tax on interest earned through the account.
The Chancellor recently met with City firms who claimed that £300 billion held in Cash ISAs would create better results if they were instead placed in Stocks and Shares ISAs, with the Telegraph reporting that she's considering cutting tax benefits for the scheme.
