Individual Savings Accounts (ISAs)

1. Overview

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

In the 2017 to 2018 tax year, the maximum you can save in ISAs is £20,000

There are 4 types of ISA:

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

You can put money into one of each kind of ISA each tax year.

Who can open an ISA

You must be:

  • 16 or over for a cash ISA
  • 18 or over for a stocks and shares or innovative finance ISA
  • 18 or over but under 40 for a Lifetime ISA
  • resident in the UK
  • a Crown servant (eg diplomatic or overseas civil service) or their spouse or civil partner if you don’t live in the UK

You can’t hold an ISA with or on behalf of someone else.

You can get a Junior ISA for children under 18.