An Individual Savings Account (ISA) is a UK tax-efficient savings and investment wrapper designed to help individuals save without paying income tax or capital...
An Individual Savings Account (ISA) is a UK tax-efficient savings and investment account that allows you to save or invest without paying income tax or capital gains tax on your returns.
Key types include Cash ISAs (for savings), Stocks and Shares ISAs (for investments), Lifetime ISAs (for first homes or retirement), and Innovative Finance ISAs (for peer-to-peer lending).
The annual ISA allowance is set by the government each tax year. For the 2023/2024 tax year, the total allowance across all ISA types is £20,000.
You must be a UK resident taxpayer, aged 18 or over (or 16 for a Cash ISA), to open and subscribe to an ISA.