You can save tax-free with Individual Savings Accounts (ISAs).

In the 2024 to 2025 tax year, the maximum you can save in ISAs is £20,000

There are 4 types of ISA:

  • cash ISA
  • stocks and shares ISA
  • innovative finance ISA
  • Lifetime ISA

This guide is also available in Welsh (Cymraeg).

Who can open an ISA

You must be 18 or over to open an ISA. If you’re opening a Lifetime ISA you must also be under 40. 

If you were born between 6 April 2006 and 5 April 2008, you can open one cash ISA before you turn 18.

You must also be either:

  • resident in the UK
  • a member of the armed forces or a Crown servant (for example diplomatic or overseas Civil Service) or their spouse or civil partner if you do not live in the UK

You cannot hold an ISA with someone else.

You can get a Junior ISA for children under 18.

Opening and managing an ISA for someone who lacks the mental capacity to do this for themselves

You can apply for and manage an ISA on someone’s behalf if:

To apply to become a financial affairs deputy: