Last autumn the government abolished the Health and Social Care Levy, which imposed a small additional tax on dividends. However, chancellor Jeremy Hunt’s (pictured) decision to cut both the tax-free allowance on capital gains and the dividend allowance (which will fall to £3,000 and £500 respectively from April 2024) demonstrates that the broader trend is towards a rise in taxes on investment, to say nothing of the growing clamour for a wealth tax. There has therefore never been a better time to put money in an individual savings account (Isa): any investments inside the wrapper are free of taxes on capital gains,
