Fraudsters are encouraging savers to move their money into higher risk cryptocurrency investments. Skipton does not endorse any cryptocurrency investments.
Be cautious of uninvited investment offers. If something doesn’t feel right, trust your instincts and take the time to investigate.
For the 2025/26 tax year, the annual ISA allowance is £20,000. You can use this to save into a Cash ISA, a Stocks and Shares ISA, or a combination of both.
In the 2024 Autumn Budget, the UK Government announced the annual ISA allowance will remain at £20,000 a year until at least 2030. Although as we’ll go onto explain, this might be subject to change.
For the 2025/26 tax year, the annual LISA allowance is £4,000. The government will add a 25% bonus on top of what you pay in. This means you could have a maximum combined total of £5,000 added to your LISA for each tax year.
There are strict rules around withdrawing from a LISA. For more details, see 'Can I make withdrawals from my ISA' section below.
Yes, using your LISA allowance counts towards your overall annual allowance. If, for example, you save £4,000 into a LISA for this tax year, you can only save or invest £16,000 into a Cash ISA and/or Stocks and Shares ISA
For the 2025/26 tax year, the annual JISA allowance is £9,000.
Withdrawals from a JISA aren’t allowed until the child turns 18.
Every UK adult gets a new annual ISA allowance at the start of each tax year (April 6). You can use it to save into a Cash ISA or LISA, or to invest into a Stocks and Shares ISA or Innovative Finance ISA.
You can save or invest into a combination of ISAs. But you can’t go above £4,000 into a LISA and above £20,000 overall.
Your annual ISA allowance is only available for that tax year. In other words, you can’t transfer over any unused ISA allowance into the following tax year.
To make the most of the tax-efficient benefits of ISAs, it could be worth making full use of your annual allowance before the end of the tax year.
The UK government is reviewing the rules on Cash ISAs. There has been some media speculation the annual allowance for Cash ISAs will be reduced.
It’s worth keeping an eye out for future announcements. In the meantime, it might be worth making the most of your annual £20,000 Cash ISA allowance, as there is some doubt the current rules will stay the same.
The short answer is – you can have as many ISAs as you like, provided you meet the eligibility criteria. Find out how many ISAs you can have.
If you realise you have accidentally exceeded your annual ISA allowance, you should contact your ISA provider as a first step. They should be able to support you in fixing the situation. This might include moving part of your savings/investments into a non-ISA account/fund. You may have to pay a charge for any tax due.
Your ISA provider(s) is required to share with HMRC the details of how much you’ve paid into an ISA each tax year. So, if you don’t realise you’ve accidently gone over your ISA allowance, HMRC will contact you to explain what happens next.
It depends on what type of ISA you have.
For example:
These examples above don’t cover all types of ISAs. It’s always best to check the terms and conditions of your ISA to see if you can make withdrawals.
No. You can transfer money from one ISA to another and it won’t count towards your annual ISA allowance. Let’s say you have £50,000 held in a Cash ISA with one ISA provider from previous tax years. You could transfer this to another ISA provider and still save or invest up to £20,000 for the current tax year.
Although moving your savings/investments from one ISA to another allows you to keep the tax-efficient benefits, some providers might charge you a fee to transfer your money. It’s always best to check with your current ISA provider first.
Your loved ones could inherit your ISA savings and investments and keep their tax-efficient benefits.
During the period your affairs are being sorted, your ISA would be classed as ‘continuing ISA’. What this means is your ISA keeps its tax-efficient status.
This stays in place until whichever of these occurs soonest:
Your spouse or civil partner can also inherit your ISA allowance that you’ve built up over the years, even if you leave the funds to someone else. This allowance is known as Additional Permitted Subscriptions (APS). It is on top of their own £20,000 ISA allowance for the tax year.
The value of the APS allowance is equal to the value of savings the deceased held in ISAs on the date of their death.
We offer a Legacy Cash ISA option designed specifically for inherited APS allowances.
Stocks & Shares ISAs aren't like bank and building society savings accounts as your money is at risk and you may get back less than you invested.
The tax treatment of savings and investments depends on personal circumstances. Tax rules may change in the future.