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The Government recognises the importance of saving and is committed to ensuring that
savings tax policy continues to support savers at all stages of life. This includes
policy relating to ISAs, which remain popular across the UK - around 12 million adult
ISAs were subscribed to in 2020-21.<p> </p><p> </p><p> </p>Individuals can save up
to £20,000 into an ISA each year. This, coupled with the Personal Savings Allowance
of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers,
ensures that most savers pay no tax on their savings income.<p> </p><p> </p><p> </p>The
government keeps all aspects of savings tax policy under review as part of the process
of policy development and delivery, with any changes made as part of the Budget process.
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