What is the Stocks and Shares ISA allowance?
The 2020-21 tax year allowance is £20,000. This is the total amount you can invest in ISAs during this tax year while enjoying the tax benefits they offer.
The allowance can be split between different accounts, including a Cash ISA, Stocks and Shares ISA, Lifetime ISA (up to £4,000) and Innovative Finance ISA. You can contribute to more than one type of ISA but not to more than one of the same type in the same tax year.
There is a separate allowance for Junior ISAs for under 18s, which is £9,000 for this tax year.
Every individual has an annual ISA allowance, with couples able to enjoy a combined allowance of £40,000 (£20,000 each).
The current tax year runs from 6 April 2020 to 5 April 2021.
What happens if I do not use my ISA allowance?
Unlike your self-invested personal pension (SIPP) allowance, you cannot carry over any ISA allowance if you have not contributed your full amount. If you do not contribute to your ISA at all during the tax year, you may need to reactivate your ISA the next time you want to make contributions. You can do this by logging in to your account and reconfirming your date of birth and National Insurance number.
Historical ISA allowances
|Tax Year||Share ISA / Total Allowance||Cash ISA||Junior ISA||Lifetime ISA|
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