Defend the ISA Promise: Stop the 22% Tax on Cash in Stocks & Shares ISAs — 8 signatures. Status: rejected.
The Government should not introduce the proposed 22% tax on interest earned from cash held within Stocks & Shares ISAs. Cash balances are often held temporarily while saving to invest. Cash-equivalent investments carry risk and lack bank deposit protection. Taxing them would discourage investment
Cash in Stocks & Shares ISAs is a temporary reserve for buying shares, not a Cash ISA alternative. Taxing this interest reduces investment and disproportionately hurts middle-and-lower-class savers building wealth. To earn interest here, cash is often held in Qualifying Money Market Funds (QMMFs). These are risky investments without bank deposit protections, meaning savers could lose money while still facing tax liabilities. This policy unfairly penalizes everyday savers and investors.
View this petition on the official UK Parliament website