Interactive Investor

ISA allowance 2024/25

Take advantage of this year's ISA allowance and invest up to £20,000 tax-free in 2024/25.

Make your ISA move today

Important information - investment value can go up or down and you could get back less than you invest. If you're in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of the product you should contact HMRC or seek independent tax advice.

What is the 2024/25 Stocks and Shares ISA allowance?

The 2024/25 ISA allowance is £20,000. This is the total amount you can pay into ISAs during this tax year. 

You can split your allowance between different types of ISA. For example, you could pay into a cash ISA and a Stocks and Shares ISA in the same tax year. But the total can’t exceed £20,000.

The current tax year runs from 6 April 2024 to 5 April 2025. 

How does the ISA allowance work?

The allowance can be split between different ISA accounts, including a Cash ISA, Stocks and Shares ISA, Lifetime ISA (up to £4,000 per year) and Innovative Finance ISA. As of 6 April 2024, the ISA rules changed so you can contribute to as many ISAs as you want - including different types - in a tax year (except for Lifetime ISAs and Junior ISAs)

There is a separate allowance for Junior ISAs for under 18s, which is £9,000 for this tax year. 

Why should you take advantage of your ISA allowance each year?

When your money is held in an ISA, you don’t pay UK tax on anything that money earns – be that in the form of interest, dividends or capital gains. 

In addition to the tax advantages, ISAs offer investors flexible access to their savings. It’s important to use as much as you can of your annual £20,000 ISA allowance before the end of the tax year on 5 April, or you will lose it.

What happens if I do not use my ISA allowance? 

You don’t have to use your full allowance, but you can’t carry over unused allowance from previous years.

As of 6 April 2024, if you have not contributed to your ISA at all during the previous tax year, under the new rules you will no longer need to reactivate it.

Historical ISA allowances

Since ISAs were launched, allowances have gradually increased. This means there has never been a better time to invest in an ISA. 

The following table shows how rates have changed over time.

Tax YearShare ISA / Total AllowanceCash ISAJunior ISALifetime ISA

ISA allowance FAQs

Learn more with our guides

What is an ISA?

Learn more about how Stocks and Shares ISAs work.

Stocks and Shares ISA rules

Discover the rules to investing in a Stocks & Shares ISA.

Junior ISA allowance

Make the most of your allowance

ISA investment ideas

Find inspiration for your ISA investments.