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Changes for households with over £12,000 savings under Andy Burnham government. The annual Cash ISA allowance for new deposits will fall to £12,000 from April 2027. Households holding more than £12,000 in savings will be affected by a new Cash ISA regulation coming into effect under new Prime Minister Andy Burnham. Article continues below Andy Burnham emotional as he talks about his father on This Morning in July Former Chancellor Rachel Reeves unveiled fresh rules regarding Cash ISAs following prolonged speculation about reductions to the tax-free savings vehicles, claiming the move would encourage Britons to invest in the stock market rather than keeping cash reserves. Article continues below Since former Prime Minister Sir Keir Starmer resigned, the Chancellor was replaced, but successor John Healey will maintain Reeves' amendments. Article continues below 138205441702 Under the new regulations from next April, savers will only be permitted to deposit £12,000 into Cash ISAs, reduced from the existing £20,000 threshold. Those with savings exceeding £12,000 will face tax charges on savings interest for any sum surpassing the Personal Savings Allowance. The Personal Savings Allowance permits savers to earn £1,000 of interest tax-free, although this reduces to £500 for those earning above £50,270 and £0 for those earning over £125,140. Individuals earning interest on cash held outside ISAs will subsequently incur the tax charges, reports the Express. One exception applies to state pensioners. Those aged over 65 (noting that not all fall into this category, as the state pension age currently stands at 66, increasing to 67) will receive a special exemption and retain the full £20,000 annual allowance. In her Autumn Budget, Reeves unveiled a long-awaited and widely dreaded reduction to Cash ISAs, despite vocal opposition from prominent financial advocates such as Martin Lewis. However, the MSE founder did welcome the exemption for older savers, something he had been lobbying for. Under the revised regulations, savers will still be permitted to deposit £20,000 annually into tax-free ISAs as before, but Cash ISAs will be capped at £12,000, rather than the full £20,000. Those wishing to utilise the entire £20,000 allowance will be required to place the remaining £8,000 into a Stocks and Shares ISA. Cash ISAs, which enable savers to set money aside shielded from tax each financial year, have faced considerable scrutiny. At one stage, speculation suggested the ceiling could be slashed to as little as £10,000. Article continues below Online platforms are to be established, designed "to help people invest" in the UK, Rachel Reeves confirmed as she outlined her overhaul of the ISA framework. The Chancellor told MPs: "From April 2027, I will reform its ISA system, keeping the full £20,000 allowance while designating £8,000 of it exclusively for investment, with over-65s retaining the full cash allowance. "And thanks to its changes to financial advice and guidance, banks will be able to guide savers to better choices for their hard-earned money. "Over 50% of the ISA market - including Hargreaves Lansdown, HSBC, Lloyds, Vanguard and Barclays - have signed up to launch new online hubs to help people invest here in Britain." Those who typically save beyond that threshold will need to seek out alternative options ahead of the changes taking effect, such as utilising Stocks and Shares ISAs, though any existing deposits will remain unaffected. Incoming Prime Minister Andy Burnham will be at the helm when the new regulations are introduced in April 2027. Article continues below Mr Burnham has also pledged to maintain the state pension triple lock and will honour Reeves' Income Tax exemption for state pensioners.

Hargreaves Lansdown introduces nine crypto ETNs for investors. Hargreaves Lansdown has launched nine exchange-traded notes (ETNs) focused on Bitcoin and Ether, providing a regulated option for cryptocurrency exposure to its users. This initiative is available as of September 3 and caters to nearly 2 million investors on the UK's leading retail investment platform. Discover more Derivatives New crypto investment options for UK investors. The recently launched crypto ETNs are sourced from reputable issuers including BlackRock's iShares, WisdomTree, 21Shares, Invesco, CoinShares, and Bitwise, with annual fees ranging from 0% to 0.35%. These products are exclusively accessible through Hargreaves Lansdown's Advanced Investing service, requiring users to self-certify as advanced investors. Prior to engaging with the crypto ETNs, eligible customers must complete an online assessment to gauge their understanding of the risks involved, followed by a 24-hour cooling-off period. Background and implications of the launch. The introduction of these ETNs follows the Financial Conduct Authority's decision to lift a four-year ban on retail access to qualifying crypto products in October 2025. Hargreaves Lansdown had previously taken a cautious stance, asserting that Bitcoin was not recognized as an asset class. The platform's chief product officer mentioned that the delay in launching these products was to ensure that necessary client safeguards were in place. As a result, while this offering provides a regulated pathway for Bitcoin and Ether exposure, it is important for investors to recognize the distinct risks involved compared to direct cryptocurrency ownership. In summary, the launch of crypto ETNs by Hargreaves Lansdown marks a significant step for UK investors seeking regulated cryptocurrency options. The response from potential investors will be essential in determining the success and expansion of this product range moving forward. Discover more Financial Markets News Stocks & Bonds

ICS announces the appointment of Tom Cunningham as Managing Director, EMEA. ICS is have announced the appointment of Tom Cunningham (pictured) as Managing Director, EMEA. Management Tom joins ICS from Hargreaves Lansdown Fund Managers, where he served as Director of Investment Operations and Change, leading the investment operations and technology agenda for one of the UK's largest retail asset managers. In that role, he was a direct user of the ATHENA platform. Before Hargreaves Lansdown, he held COO and CTO positions at major UK and global asset managers, led technology strategy at a global software firm, and served as a partner at a consultancy. His decision to join ICS carries its own signal. Tom has operated at the senior end of investment operations leadership. He has seen what ATHENA delivers in a genuinely demanding production environment. And he has chosen to build his next chapter around it. In this role, Tom will lead ICS's commercial and client operations across the UK and Europe, serving as the senior point of contact for EMEA clients and prospects, and working closely with the ICS Board and global leadership team to accelerate regional growth. ICS Co-Founder and Chief Commercial Officer, Christian Eriksen, said "Tom's appointment marks a new chapter for ICS in EMEA. He has operated at the highest level of investment operations leadership and brings that experience directly into our commercial team. The fact that he comes to us from inside one of our own clients, having seen ATHENA operate in a genuinely demanding environment, is a validation we could not manufacture. We are very glad to have him." Commenting on his new appointment, Tom Cunningham said, "I'm thrilled to be joining ICS. It's an exciting and dynamic business with a market-leading product that continues to make an impact in the financial services sector. In fact, it's the only product I've deployed in my career that all business users not only liked but actively utilised. "What's also impressed me is the way the people behind the business bring their passion, knowledge and sense of pride into the workplace. It's a culture that creates strong, effective partnerships with clients. "Right now, ICS's clients face a series of challenges - not just the current macroeconomic environment, but also the advent of new technologies including AI and the move to a more real-time operating environment across the regulated ecosystem. What that means for us is that our mission to provide solutions addressing core operating models is becoming ever more critical. We're here to give our clients the flexibility they need alongside the scalability they depend upon." Engineering & Technology Discover more Western Europeans Engineering & Technology ICS works with a growing community of investment managers across the UK and Europe, including Hargreaves Lansdown, Veritas Asset Management, and Impax Asset Management. Tom's appointment marks the next stage: a dedicated regional leader with the operational depth, commercial experience, and market profile to match the scale of the opportunity.