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Rachel Reeves’s tax shake-up: time to plan ahead, from Isas to self-assessment

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Millions of people will be affected by a range of savings, investment and tax changes that take effect in just under a year’s time. “April 2027 may feel some way off, but when it comes to financial planning, a year is not a long time,” says Jason Hollands at the wealth management firm Evelyn Partners. “The changes on the horizon are significant and, for many people, will require a rethink of strategies that may have been in place for many years,” he adds. “The key message is not to wait. The sooner people start reviewing their plans, the more options they are likely to have.” Here, we look at things you can do now that will hopefully put you in a better place financially. Cash Isas What’s happening? Every tax year you can save up to £20,000 in one Isa or split the allowance across multiple Isas , putting as much of that as you want into either cash or stock and shares. From 6 April 2027, the rules on where the money can go will change for anyone aged under 65.…

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