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  • Funds withdrawn from an ISA can only be reinvested within the normal investment limits.
  • From 6 April 2016 cash withdrawn from an ISA earlier in a year can be replaced without counting towards the annual ISA subscription limit.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.

Updates


Updates

29/03/2017 Updated for 2017/18 limits.

07/03/2017 Updated rates per SI 2017/186.

20/09/2016 Updated for Finance Act 2016 changes.

 

Comments (0)

Rated 0 out of 5 based on 0 voters
There are no comments posted here yet

Leave your comments

  1. Posting comment as a guest.
Rate this post:
Attachments (0 / 3)
Share Your Location