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Max your tax-free allowance

Our ISA Hub has the tips and insights you need to grow your savings tax‑free.

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When it comes to your financial future, every penny matters

Our ISA specialists are up to the challenge of helping you make more of your money.

  • For goals big and small, using your annual ISA allowance could turn your hopes into reality.
  • Whether you're choosing your first ISA, transferring existing savings or planning for the end of a fixed term, we're here to help you make informed decisions about your money.
  • You have until 5 April each tax year to make the most of your £20,000 ISA allowance.

We’ve got lots of options and support to help you.

What is an ISA?

It stands for Individual Savings Account, and it’s a simple way to save or invest your money without paying tax on the returns.

Depending on your situation, you might pay tax on the interest or investment returns you earn. Inside an ISA, your tax bill is £0.

You can use your £20,000 ISA allowance with Skipton to:

Save in a Cash ISA

These are savings accounts with tax-free interest. We offer different Cash ISAs to suit different savings goals and access needs.

Invest into a Stocks and Shares ISA

This is where you invest your money into funds. The value of your investment can rise and fall, but over the long term this option offers the potential of higher returns compared to Cash ISAs.

Save and invest

Each tax year you can use your annual £20,000 ISA allowance in either type of ISA. Or mix it up by spreading your allowance over both.

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There are other types of ISAs available to suit different goals.

Not all ISAs are the same. Find your ISA match.

Different ISAs work in different ways. Answer a few quick questions to see which type of ISA could work for you.

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Not sure which ISA is right for you?

That’s normal. You don’t need to decide this on your own. We offer Cash ISA tax-free savings strategies or personalised advice on Stocks and Shares ISAs.

Our ISA options

Can I transfer my ISA?

Yes. If you have ISA savings elsewhere, you don’t need to start again. We’re happy to check if they could be doing more for you – without losing the tax benefits.

Our ISA transfers explained page has more information on moving ISAs. Better still, get in touch to chat through your options.

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In-app ISA Transfers

Did you know you can start an ISA transfer directly in the Skipton app? Simply select ‘ISA Transfer’ and we’ll guide you through each step.

Is your fixed rate Cash ISA coming to an end?

If your fixed rate Cash ISA is nearing the end of its term (known as maturity), you'll usually have several options available, including moving your money to a new ISA or withdrawing your savings.

If you have a Cash ISA with Skipton, we'll contact you before it matures so you have time to consider what could work best for you.

What happened to the proposed Cash ISA changes?

There had been plans to reduce the amount that people under 65 could pay into Cash ISAs from April 2027. However, the government announced in the 2026 Autumn Budget that these changes will not go ahead.

What does this mean for you?

  • Your overall annual ISA allowance will remain at £20,000.
  • You can continue to save up to £20,000 of your allowance for Cash ISAs.
  • You can split your ISA allowance between different types of ISA, subject to the overall £20,000 annual limit.
  • You can continue to transfer money from a Stocks and Shares ISA or Innovative Finance ISA into a Cash ISA.

Lifetime ISAs

What changes were announced at the 2026 Autumn Budget?

If you already have a Lifetime ISA (LISA), you can keep it and continue using it under the existing rules.

One change takes effect from 29 October 2026. If you use your LISA to buy your first home for more than £450,000, the government withdrawal charge will be 20% instead of 25%. This means you’ll get back the amount you paid in, although you’ll lose the government bonus.

If the purchase price is £450,000 or less and the withdrawal meets the other qualifying rules, no government withdrawal charge applies.

The new First Time Buyer ISA

The government plans to introduce a new First Time Buyer ISA from 6 April 2029. It will replace the Lifetime ISA for new savers.

The government has now confirmed some of the main features of the new First Time Buyer ISA. It will:

  • Allow contributions of up to £4,000 each year.
  • Provide a 25% government bonus.
  • Be available without an upper age limit.
  • Be used towards a qualifying first home costing up to £450,000.
  • Allow customers to withdraw their money without a withdrawal charge if their plans change, although they would not receive the government bonus.

Frequently Asked Questions

Yes. You can keep your LISA and continue using it under the existing rules. You can still save up to £4,000 each tax year until you turn 50, and use your savings towards an eligible first home or for retirement.

Any withdrawals within the first 12 months of your first payment into a Lifetime ISA will trigger a 25% government withdrawal charge, which means you would get back less than you paid in. After the first 12 months, you can withdraw money to buy your first home, but for any other withdrawals before the age of 60, the government withdrawal charge usually applies.

From 29 October 2026, if you use your LISA to buy a first home costing more than £450,000 and the purchase meets the other qualifying rules, a 20% government withdrawal charge will apply.

Yes. The government bonus isn't changing for existing LISA holders. You'll continue to receive a 25% bonus (up to £1,000 a year) on eligible contributions until you turn 50, up to the existing limits.

No. Your existing LISA will remain a LISA. The new First Time Buyer ISA will be a separate account available from 6 April 2029.

You can open a First Time Buyer ISA alongside your LISA, but you can’t pay into both in the same tax year and you can’t transfer your LISA savings into the First Time Buyer ISA.

Yes. If you’re under 50, you can continue paying up to £4,000 into your LISA each tax year and receive the government bonus on eligible contributions. Your LISA contributions form part of your overall annual ISA allowance.

You can still keep your LISA if you're over 50. Under the existing LISA rules, you can't make further contributions or receive further government bonuses once you turn 50. You can continue holding your savings in the account, with the usual LISA rules applying to withdrawals.

It all depends on your situation and goals. If you have plenty of savings and can put some money aside for at least five years, investing in a Stocks and Shares ISA could give you the chance of higher returns than a Cash ISA. But your money is at risk and you could get back less than you invest.

If you don't want to take that risk, or might need access to your money sooner, a Cash ISA might suit you better. You can earn interest on your savings to help them grow.

Whichever route you choose, any interest or returns you make within an ISA are tax-free.

Challenge our ISA specialists to build a brighter future for your money

Since 1999, we’ve helped our members use ISAs to create stronger plans towards helping them achieve their goals. Why not challenge us to do the same for you?

Investing usually gives you better returns than a savings account over time (five years or more). But the value of your investments can go up and down, so you could get back less than you put in.

Any tax you pay on your investments and savings depends on your own situation – and rules could change.

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