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Savings Query

(30 Posts)
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Calendargirl Mon 01-Dec-25 07:06:48

The ISA changes are from April 2027, not next year.

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NotAGran55 Mon 01-Dec-25 05:34:43

The ISA limit is going to remain at £20K for the over 65s, not drop to £12K.

This is per person per year Moonwatcher1904

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Moonwatcher1904 Mon 01-Dec-25 00:47:39

Thankyou Grannytomany I will look into that.

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Grannytomany Mon 01-Dec-25 00:19:41

If you put your savings into an ISA account you won’t get get any of it taxed. The amount you can legally put into a cash ISA each year is currently £20,000 dropping to £12,000 next year.

Similarly premium bonds are tax free.

Even with savings which aren’t in tax free accounts you would only pay income tax on any interest exceeding £1000 per year.

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Moonwatcher1904 Sun 30-Nov-25 23:52:53

My DH gets a good monthly works pension, PIP as he had to retire early through ill health and now gets a full state pension. I get a full state pension and a very small works pension as I drew a lot of it out some years ago.
We have a joint bank account and joint savings account and are putting money into the savings to get our flat completely refurbished. Our flat is our own (mortgage paid off) but needs a lot of work. We don't get pension credit.
My DH is bothered that if we put too much across into the savings we will be taxed and has a savings limit of £3000 in his mind. We are close to that and worried about putting anymore into that account.
All the sites I look at mention pension credit and it's all very confusing.
Does anyone know what the limit is?

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