The chancellor’s Spring Statement passed by without a single mention of tax. This is a welcome relief for taxpayers and advisers alike, given the volume of changes announced in recent fiscal events. There do however remain a number of loose threads that need to be tied up in the forthcoming tax year.

One of the bigger cliffhangers from the autumn 2025 Budget relates to the government’s plans to introduce a £12,000 annual cap on cash ISA contributions for investors under the age of 65, effective from 6 April 2027.

Investors will still have an overall ISA allowance of £20,000, however, once those impacted have used their £12,000 cash ISA allowance, the remaining £8,000 will need to be invested in a stocks and shares ISA if they wish to fully maximise their allowances.