Energy fixes are back! | Best ISAs for 2026/7 | Council Tax Change

In this episode of The Martin Lewis Podcast, Martin Lewis addresses two major financial topics: energy bill changes and the new £20,000 ISA allowance for the 2026/7 tax year. With the ceasefire in the Middle East, energy firms are now offering fixed tariffs cheaper than the current price cap, creating a rare window of opportunity for consumers on the standard price cap to lock in lower rates for up to a year. Martin emphasizes that most people on the price cap are unaware they’re on it, and urges them to act quickly to avoid upcoming price hikes. He also breaks down the mechanics of the price cap’s time-lagged calculation and warns that even with a ceasefire, prices are still expected to rise significantly in July and beyond. On the ISA front, Martin explains the new £20,000 annual allowance, clarifying that it’s a tax wrapper, not tax-free income. He highlights that cash ISAs now offer better rates than standard savings accounts, making them a smart choice even for non-taxpayers. He also previews upcoming changes: from April 2027, the cash ISA limit for under-65s will drop to £12,000, though existing balances remain tax-free. Martin advises listeners to plan transfers strategically and avoid closing ISAs to preserve their allowance. The episode closes with a lighter segment on personal finance mistakes that turned out well, reinforcing the value of long-term financial discipline.