Cash ISAs: why it could be your last chance to grab 5% tax-free savings

Cash ISAs are facing potential tax reforms and falling interest rates, prompting savers to use their £20,000 annual ISA allowance before April 5. The Bank of England has cut the base rate, with more cuts expected this year. Savers are advised to act quickly to lock in higher interest rates with fixed-rate cash ISAs. The government is considering reducing tax benefits for cash ISAs, which may impact the popularity of the savings vehicle. Savers are encouraged to consider a diversified investment strategy that includes both cash and stocks and shares ISAs.

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