Interactive Investor

There is no limit to how many ISAs you can have in your lifetime. However, you can only pay money into one of each type of ISA in a tax year. 

Types of ISAs

The main types of ISA are:

  • Cash ISAs which are like regular cash saving accounts, but any interest you earn is tax-free. 
  • Stocks and Shares ISAs which allow you to invest your money in the stock market. Any gains on your investments are tax-free. 
  • Lifetime ISAs which are for saving towards buying your first home or retirement. The government adds a 25% bonus to any money you contribute to a Lifetime ISA (or LISA). However, you cannot access the money until you are 60 unless you are buying your first house. 
  • Junior ISAs which are savings accounts for a parent or guardian can set up for under 18s. The child can access the money once they turn 18 (when it turns into a regular Cash ISA or Stocks and Shares ISA). 

Each tax year, you can contribute up to £20,000 in total across your ISAs. You can choose how to split this money between each type (you can contribute a maximum of £4,000 per year to a LISA). 

For example, you could contribute £10,000 to a Stocks and Shares ISA, £4,000 to a Lifetime ISA and £6,000 to a Cash ISA. 

There is a separate £9,000 allowance for Junior ISAs. 

Can I have more than one Stocks and Shares ISA?

While you can have more than one Stocks and Shares ISA, you can only contribute money to one Stocks and Shares ISA each tax year.

This means you could open a new Stocks and Shares ISA each year. However, you will be unable to pay money into your old Stocks and Shares ISAs if you open new one. 

Learn more about our Stocks and Shares ISA

Learn how to make the most of your Stocks and Shares ISA with our useful guides.

Investment ideas

Need inspiration? Our experts are here to help you get started.

What is an ISA?

Learn more about how Stocks and Shares ISAs work.

Transfer an ISA

It's easy to transfer Stocks ISAs and Cash ISAs to ii.

Junior ISA

A tax-efficient way to invest in your child’s future.