How much is my ISA allowance?

How much can I save in an ISA?

For the 2026/27 tax year, the annual ISA allowance is £20,000. You can use this to save into a Cash ISA, a Stocks and Shares ISA, or a combination of both.

What is the Lifetime ISA (LISA) allowance?

For the 2026/27 tax year, the annual LISA allowance is £4,000. The government will add a 25% bonus on top of what you pay in. This means you could have a maximum combined total of £5,000 added to your LISA for each tax year.

• The annual LISA allowance is currently set to remain at £4,000 until at least 2030.
• You can only save into a LISA each tax year if you’re aged between 18 and 49.
• You have to be between the age of 18 and 39 to open a new LISA.
• Once you reach 50, you can’t pay any further money in, or receive any further government bonus.

There are strict rules around withdrawing from a LISA. For more details, see 'Can I make withdrawals from my ISA' section below.

Does LISA count towards my overall ISA allowance?

Yes, using your LISA allowance counts towards your overall annual allowance. If, for example, you save £4,000 into a LISA for this tax year, you can only save or invest £16,000 into a Cash ISA and/or Stocks and Shares ISA

What is the Junior ISA (JISA) allowance?

For the 2026/27 tax year, the annual JISA allowance is £9,000.

• If you’re a parent or guardian of a child under the age of 18, you can save or invest up to this amount on their behalf. It doesn’t count towards your own annual £20,000 ISA allowance.
• If you’re aged 16 or 17, you can set up your own JISA and save up to £9,000 each tax year.
• Any money held in a JISA belongs to the child.

Withdrawals from a JISA aren’t allowed until the child turns 18.

When does my ISA allowance reset?

Every UK adult gets a new annual ISA allowance at the start of each tax year (April 6). You can use it to save into a Cash ISA or LISA, or to invest into a Stocks and Shares ISA or Innovative Finance ISA.

You can save or invest into a combination of ISAs. But you can’t go above £4,000 into a LISA and above £20,000 overall.

Your annual ISA allowance is only available for that tax year. In other words, you can’t transfer over any unused ISA allowance into the following tax year.

To make the most of the tax-efficient benefits of ISAs, it could be worth making full use of your annual allowance before the end of the tax year.

Are ISA allowances going to change?

The UK government is reviewing the rules on Cash ISAs. In the meantime, it might be worth making the most of your annual £20,000 Cash ISA allowance.

How many ISAs can I have?

The short answer is – you can have as many ISAs as you like, provided you meet the eligibility criteria. Find out how many ISAs you can have.

What happens if I accidentally exceed my ISA allowance?

If you realise you have accidentally exceeded your annual ISA allowance, you should contact your ISA provider as a first step. They should be able to support you in fixing the situation. This might include moving part of your savings/investments into a non-ISA account/fund. You may have to pay a charge for any tax due.

Your ISA provider(s) is required to share with HMRC the details of how much you’ve paid into an ISA each tax year. So, if you don’t realise you’ve accidently gone over your ISA allowance, HMRC will contact you to explain what happens next.

Can I make withdrawals from my ISA?

It depends on what type of ISA you have.

For example:

• if you have an easy access Cash ISA, in most cases you can make withdrawals without paying any interest penalties
• fixed rate Cash ISAs don’t usually allow you to make withdrawals for a set term. They also often have interest penalties if you close them early
• stocks and Shares ISAs don’t usually have withdrawal restrictions. However, it’s generally recommended you hold them for at least five years. So, if you have savings you think you might need to access at short notice, it’s worth considering other options like an easy access Cash ISA
• with a LISA, you can withdraw to buy your first home after 12 months from your first payment in. For any other withdrawals before the age of 60, a 25% government withdrawal charge usually applies. This means you’d get back less than you paid in
• withdrawals from JISAs are not allowed until the child is 18 (and then only they can withdraw money).

These examples above don’t cover all types of ISAs. It’s always best to check the terms and conditions of your ISA to see if you can make withdrawals.

Does transferring my ISA count towards my annual ISA allowance?

No. You can transfer money from one ISA to another and it won’t count towards your annual ISA allowance. Let’s say you have £50,000 held in a Cash ISA with one ISA provider from previous tax years. You could transfer this to another ISA provider and still save or invest up to £20,000 for the current tax year.

Although moving your savings/investments from one ISA to another allows you to keep the tax-efficient benefits, some providers might charge you a fee to transfer your money. It’s always best to check with your current ISA provider first.

What happens to my ISA allowance when I die?

Your loved ones could inherit your ISA savings and investments and keep their tax-efficient benefits.

During the period your affairs are being sorted, your ISA would be classed as ‘continuing ISA’. What this means is your ISA keeps its tax-efficient status.

This stays in place until whichever of these occurs soonest:

• the administration of the estate is complete
• the ISA is closed
• it’s been three years since the loved one died.

Your spouse or civil partner can also inherit your ISA allowance that you’ve built up over the years, even if you leave the funds to someone else. This allowance is known as Additional Permitted Subscriptions (APS). It is on top of their own £20,000 ISA allowance for the tax year.

The value of the APS allowance is equal to the value of savings the deceased held in ISAs on the date of their death.

We offer a Legacy Cash ISA option designed specifically for inherited APS allowances.