- You are here:
-
Home
-
Private Client & Estate Planning
-
Income, claims & reliefs
- Savings & ISA limits
- Last Updated: 16 March 2020
At a glance
ISA Investment Limits
| Annual ISA subscription limit: | 2020/21 | 2019/20 | 2018/19 | 2017/18 |
2015/16 to 2016/17 |
1/7/2014 to 5/4/15 |
6/4/14 to 30/6/2014 £ |
| Overall (Adult) | 20,000 | 20,000 | 20,000 | 20,000 | 15,240 | 15,000 | 11,880 |
| Cash ISA | 20,000 | 20,000 | 20,000 | 20,000 | 15,240 | 5,940 | 5,940 |
|
Stocks & shares ISA |
20,000 | 20,000 | 20,000 | 20,000 | 15,240 | 15,000 | 11,880 |
|
Innovative finance ISA (from 6 April 2016) |
20,000 | 20,000 | 20,000 | 20,000 | 15,240 | ||
|
Junior ISA (from 1 November 2011) |
9,000 | 4,368 | 4,260 | 4,128 | 4,080 | 4,000 | 3,840 |
|
Help to Buy ISA (from 1 December 2015) |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
||
|
Lifetime ISA (from 6 April 2017 |
4,000 | 4,000 | 4,000 | 4,000 |
Overview and examples
See ISAs (subscriber guide) for full details.
What is the annual ISA allowance?
Individual Savings Accounts (ISAs) Limits
Individual Savings Accounts (ISAs) are tax-free savings accounts for qualifying individuals.
- Types of accounts include cash ISAs, stocks & shares ISAs, Junior ISAs and Help to Buy ISA.
- All interest and dividends received and capital gains made are tax-free.
- ISAs form part of the taxable estate on death.
- From April 2016 the Innovative Finance ISA is introduced.
- From April 2017 the Lifetime ISA is introduced.
ISA Investment Limits
- From 2017/18 onwards the maximum amount that can be invested into a cash or stocks & shares ISA is £20,000 (£15,240 for 2015/16 and 2016/17).
- From 2015/16 this overall allowance can be invested into any combination of cash or stocks & shares.
- In earlier years there was a limit to how much of the overall allowance could be invested in cash.
- Funds withdrawn from an ISA can only be reinvested within the normal investment limits.
- From 6 April 2016 cash withdrawn from an ISA earlier in a year can be replaced without counting towards the annual ISA subscription limit.
- Following the introduction of the innovative finance ISA on 6 April 2016, the overall allowance can be invested into any combination of cash, stocks & shares or innovative finance.
- The investment limit for Junior ISAs and Child Trust Funds increases to £4,368 from 6 April 2019.
ISA Investment Limits
| Annual ISA subscription limit: | 2020/21 | 2019/20 | 2018/19 | 2017/18 |
2015/16 to 2016/17 |
1/7/2014 to 5/4/15 |
6/4/14 to 30/6/2014 £ |
| Overall (Adult) | 20,000 | 20,000 | 20,000 | 20,000 | 15,240 | 15,000 | 11,880 |
| Cash ISA | 20,000 | 20,000 | 20,000 | 20,000 | 15,240 | 5,940 | 5,940 |
|
Stocks & shares ISA |
20,000 | 20,000 | 20,000 | 20,000 | 15,240 | 15,000 | 11,880 |
|
Innovative finance ISA (from 6 April 2016) |
20,000 | 20,000 | 20,000 | 20,000 | 15,240 | ||
|
Junior ISA (from 1 November 2011) |
9,000 | 4,368 | 4,260 | 4,128 | 4,080 | 4,000 | 3,840 |
|
Help to Buy ISA (from 1 December 2015) |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
£200 per month plus £1,000 |
||
|
Lifetime ISA (from 6 April 2017 |
4,000 | 4,000 | 4,000 | 4,000 |
See ISAs (subscriber guide) for full details.
Junior ISAs
- A Junior ISA is a long term savings fund and interest in the ISA rolls up tax-free.
- Junior ISA is available to UK resident children under the age of 18 who do not already have a child trust fund.
- It can be split into cash and shares.
- Where parents give children income-producing assets, such as cash or shares, any income earned on those assets (such as interest or dividends) in excess of £100 per year is taxable as the parent's, under the Income Tax Settlement provisions.
- The settlement provisions do not apply to gifts made by grandparents or other relatives. There is case law that should be considered when grandparents are being used as an avoidance mechanism by parents wishing to attempt to circumvent the rules.
