ISA rates & factors
You can save tax-free with Individual Savings Accounts (ISAs). There are different types of ISAs, each with their own subscription limits. We look at these here.
Before April 2024, it wasn’t possible to pay new money into more than one of each type of ISA in a given tax year. But, as announced in the Autumn Statement 2023, from April 2024 multiple subscriptions are allowed in each tax year to ISAs of the same type.
| ISA type | Eligibility |
Maximum subscription in a tax year1 |
Government bonus |
| Cash ISA | 18+ | £20,000 a year | None |
| Stocks and Shares ISA | 18+ | £20,000 a year | None |
| Lifetime ISA2 | 18-40 for set up but can subscribe up to age 50. | £4,000 a year | Maximum £1,000 a year (25%) |
| Help to buy ISA3 | 18+ | Initial subscription was £1,200 then £200 a month4 | Minimum £400 Maximum £3,000 |
| Junior ISA2 | Up to 18 | £9,000 a year | None |
| Flexible ISA2 | 18+ | £20,000 a year | None |
| Innovative finance ISA | 18+ | £20,000 a year | None |
1 The overall maximum subscription to all ISAs is £20,000.
2 Lifetime ISAs, Junior ISAs and Flexible ISAs can be Cash ISAs or Stocks and Shares ISAs.
3 It is no longer possible to open a new Help to Buy ISA. It is possible to pay in until November 2029.
4 The minimum Government bonus is £400 so it is necessary to pay in at least £1,600 before a bonus is awarded.
Disclaimer
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.