Budget 2026 Reaction: Cash ISA U-Turn, Savings Tax Hike & What It Means for Your Money

The Chancellor delivered his first Budget today, and we watched it live so you didn’t have to. A lot of the important stuff went by in about 30 seconds, so we rewound it more than once. In this special episode, Chris and Gareth give their first take on what’s changing and what it means for your money: The cash ISA U-turn: the £12,000 cash ISA cap has been scrapped, so it’s back to £20,000 for everyone. What does that mean for the providers who’ve spent a year building workarounds? The curveball: tax on savings and property income is going up again. From April 2027 it’ll be 24%, 44% and 49%. Landlords who hold property in their own name take another hit. The new ISAs: the Lifetime ISA is closed to new savers, but its withdrawal penalty is fixed. A First Time Buyer ISA and a new “Starter ISA” are on the way. State pension: no tax if it’s your only income. The triple lock isn’t being abolished, but the way it works is changing. Business owners: Business Asset Disposal Relief drops from £1m to £500k, a new 10% Founders Relief covers exits up to £10m, and the trading allowance triples from £1,000 to £3,000. Also in the Budget: a bank surcharge, business rates relief, a 3.9% minimum wage rise and help with energy bills. What didn’t change: pension inheritance tax still starts in 2027, and salary sacrifice is untouched. We recorded this before the full Budget documents came out. It’s our live reaction, so details may change once the small print is published. 📩 Get the full show notes and resources free at seriousmoneypod.com 🎧 Listen on all apps: https://podfollow.com/serious-money-p... 📸 Instagram: @seriousmoneypodcast ✉️ help@seriousmoneypod.com Nothing in this episode is financial advice. It’s for information and entertainment only.