Important information - investment value can go up or down and you could get back less than you invest. If you're in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of the product you should contact HMRC or seek independent tax advice.
What is the 2024/25 Stocks and Shares ISA allowance?
The 2024/25 ISA allowance is £20,000. This is the total amount you can pay into ISAs during this tax year.
You can split your allowance between any allowed combination of ISAs. For example, you could pay into a cash ISA and a Stocks and Shares ISA in the same tax year. But the total can’t exceed £20,000.
The current tax year runs from 6 April 2024 to 5 April 2025.
How does the ISA allowance work?
The allowance can be split between different ISA accounts, including a Cash ISA, Stocks and Shares ISA, Lifetime ISA (up to £4,000 per year) and Innovative Finance ISA. As of 6 April 2024, the ISA rules changed so you can contribute to as many ISAs as you want - including different types - in a tax year (except for Lifetime ISAs and Junior ISAs)
There is a separate allowance for Junior ISAs for under 18s, which is £9,000 for this tax year.
Why should you take advantage of your ISA allowance each year?
When your money is held in an ISA, you don’t pay UK tax on anything that money earns – be that in the form of interest, dividends or capital gains.
In addition to the tax advantages, ISAs offer investors flexible access to their savings. It’s important to use as much as you can of your annual £20,000 ISA allowance before the end of the tax year on 5 April, or you will lose it.
What happens if I do not use my ISA allowance?
You don’t have to use your full allowance, but you can’t carry over unused allowance from previous years.
As of 6 April 2024, if you have not contributed to your ISA at all during the previous tax year, under the new rules you will no longer need to reactivate it.
Historical ISA allowances
Since ISAs were launched, allowances have gradually increased. This means there has never been a better time to invest in an ISA.
The following table shows how rates have changed over time.
| Tax Year | Share ISA / Total Allowance | Cash ISA | Junior ISA | Lifetime ISA |
| 2024-25 | £20,000 | £20,000 | £9,000 | £4,000 |
| 2023-24 | £20,000 | £20,000 | £9,000 | £4,000 |
| 2022-23 | £20,000 | £20,000 | £9,000 | £4,000 |
| 2021-22 | £20,000 | £20,000 | £9,000 | £4,000 |
| 2020-21 | £20,000 | £20,000 | £9,000 | £4,000 |
| 2019-20 | £20,000 | £20,000 | £4,368 | £4,000 |
| 2018-19 | £20,000 | £20,000 | £4,260 | £4,000 |
| 2017-18 | £20,000 | £20,000 | £4,128 | £4,000 |
| 2016-17 | £15,240 | £15,240 | £4,080 | - |
| 2015-16 | £15,240 | £15,240 | £4,080 | - |
| 2014-15 | £15,000 | £15,000 | £4,000 | - |
How do you want to invest?
Are you more of a hands-on investor? Or simply prefer to leave it to the experts? Either way, we have the ISA for you. And all for our same low, flat monthly subscription.
ii ISA
Do it myself
A Self-managed ISA puts the control firmly in your hands.
Build your investment portfolio from our full range of UK and international shares, funds and bonds.
Then manage your investments yourself, with our expert insights and ideas always there if you need them.
ii Managed ISA
Do it for me
Sit back, relax and leave it to the experts with a Managed ISA.
We'll match you to a tailored investment portfolio, that reflects the risk level you're comfortable with.
Then our experts will look after your investments for you - so you can rest easy, knowing your money is managed.
