A third of investors (31%) are increasing their ISA contributions to avoid paying additional tax under the Capital Gains Tax changes announced in the most recent Budget, according to new research.

The Treasury Committee has launched a review into the future of the Lifetime ISA.

The number of cash ISAs increased 11% to 7.9m in the 2022/23 tax year but the number of Stocks and Shares ISAs fell, according to latest figures from HMRC.

Chancellor Rachel Reeves is set to scrap plans to introduce a British ISA, according to widespread reports first circulated in the Financial Times.