7 Autumn Budget | 30 October 2024 Pensions, savings and investments Individual savings accounts (ISAs) The annual subscription limits will remain at £20,000 for ISAs, £4,000 for Lifetime ISAs and £9,000 for Junior ISAs and Child Trust Funds until 5 April 2030. The plans to launch a British ISA, announced in the March 2024 Budget, will not proceed. Help to save The current help to save scheme will be extended until 5 April 2027. With effect from 6 April 2025, eligibility will be extended to all universal credit claimants who are in work. Pension scheme administrators All scheme administrators of registered pension schemes will have to be UK resident from 6 April 2026. Overseas transfers of tax-relieved UK pensions The government will remove the exclusion from the overseas transfer charge for transfers to qualifying recognised overseas pension schemes (QROPS) in the European Economic Area (EEA) or Gibraltar from 30 October 2024 to address the risk of individuals receiving double tax-free allowances. Capital taxes Capital gains tax (CGT) annual exempt amount The CGT annual exempt amount for individuals and personal representatives will remain at £3,000 for 2025/26. The annual exempt amount for most trusts will stay at £1,500 (minimum £300). Saver Investing in pensions. You may be able to make larger pension contributions because the annual allowance is now £60,000 and the lifetime allowance has been abolished.
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