Stop Putting Money Into A Cash ISA (Here's Why!)

Is a Cash ISA really the smartest place for your savings in the UK? The average easy access Cash ISA pays 2.71% while inflation runs at 3.1%, and HMRC data shows the average Cash ISA holder saves just £114 a year in tax. In this video, we follow three British savers who all get it wrong in different ways. Maureen has trusted the same high street bank for decades at 1%. Kieran is a higher-rate taxpayer quietly losing his interest to HMRC. Chloe is using her ISA allowance to protect cash that was never going to be taxed. We break down the Personal Savings Allowance, the Cash ISA limit cut to £12,000 from April 2027, the savings tax rise to 22%, 42% and 47%, and why a low-coupon gilt can beat a savings account paying over 7% for higher-rate taxpayers. We also cover money market funds, Stocks and Shares ISAs, FSCS protection, ISA transfers, and when a Cash ISA is still exactly the right choice. **Savings rates and gilt yields change, so always check the latest figures before you act. Click here to subscribe: https://www.youtube.com/channel/UCtxnhpliXK2GhCPvJHie_Ww?sub_confirmation=1 ----------------------------- ⚠️ DISCLAIMER ----------------------------- The content provided here is strictly for informational and entertainment purposes.