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What is an ISA?
An Individual Savings Account (ISA) is an account that allows you to save in a tax-efficient way, helping you to get more from your money.
How much can I put into an ISA?
Each tax year, you are given an annual ISA allowance which is set by the government and all the interest you earn is tax-free. The annual ISA allowance for the 2024/2025 tax year is £20,000.
How does the ISA allowance work?
Any allowance that you haven't used by the end of the tax year can't be rolled over into the start of the next tax year.
The ISA deadline for the current tax year is on 5 April 2025.
You can save into one type of ISA or spread your allowance across different types. The different types of ISAs include:
Find out more about the different types of ISAs available by
visiting our Savings Guide
How can I make the most out of my ISA allowance?
Topping up your ISA to the allowance limit will help you to save even more. Whether you are saving for one of life’s big moments, or just want to put some money aside, ISAs are a great way to make the most of your money.
Find out more about ISAs here.
Tax-free means you will not pay income tax on the interest you earn
Stocks and Shares – Please remember the value of investments in a Stocks and Shares ISA can go up as well as down and is not guaranteed. You could get back less than you put in.
Tax benefits can change and depends on your individual circumstances.
ISAs are ran through the Income Tax Legislation (‘The Government’s rules’). The Government is responsible for the tax treatment of ISAs and how long they receive favourable tax treatment.
