ISA Allowance
The ISA Allowance changes annually.
- The 2019-20 ISA allowance is £20,000 per person
- You have until 5th April 2020 to make use of it
- HMRC set the allowance every year based on the Consumer Price Index (CPI) as of September.
- The savings limit for Junior ISAs is £4,368
- You can spread your ISA allowance between a Cash, Stocks and Shares or Innovative Finance ISA or simply place all your savings in to one of these types of accounts. You can only have one of each.
What kind of Cash ISAs are available?
Instant Access Cash ISA
This type of cash ISA allows you to withdraw your money quickly and easily whenever you need it.
Easy Access Cash ISA
This type of cash ISA allows you to withdraw money within set boundaries - for example, you may only be permitted to make a certain number of withdrawals per year.
Fixed Rate Cash ISA
This type of cash ISA is intended to provide a better rate of interest in return for locking you money away for a set period of time. However, this is not necessarily the case, so it pays to research all your cash ISA options before making a commitment as accessing your money quickly can be difficult
Structured Deposit ISA
This type of cash ISA allows you the potential to earn higher returns than you'd usually receive from savings in a regular instant access cash ISA or fixed rate cash ISA, without risking your capital.
Your capital is protected up to a value of £85,000 by the FSCS. If your investment performs well, you'll receive your capital back at the end of the term plus any income you made on the initial deposit. In the event that your investment doesn't perform well you may receive no income or capital growth, but your initial capital will be repaid in full. So, if you put £1,000 into a structured cash ISA and the market does well over the term of the ISA, you might get £1,000 capital + 15% income when your plan matures.
In the event that the market does badly, you may not receive any returns, but you'll get your capital back.
Who are Cash ISAs Useful For?
An instant access cash ISA offers straightforward access to emergency savings, while a fixed rate cash ISA can sometimes provide a better rate of return for those prepared to lock their money away for a set period of time. Structured deposit plans, which offer returns linked to the markets while also offering capital protection, are also becoming a popular way for people to use their cash ISA allowance. As with all savings accounts, it's important that you shop around for the best deal.
For a selection of cash ISA options see our tables for latest products and options from leading market lenders.
Are there any ISA Rules?
While ISAs can be straight forward, there are some rules to follow and it’s useful to know before you get started:
- The rules on ISAs have been relaxed since April 2016 and you can now choose how you split your savings
- Some accounts have penalties if you withdraw early, particularly fixed rate accounts. Be careful to check your provider’s rules as you could leave with less than you invested if you close early
- You must use a transfer form if you want to transfer accounts. If you don’t follow the transfer procedure and simply withdraw the money yourself then you lose all tax benefits for that year
- Transferring your ISAs should take no more than 15 days although transferring from a cash ISA to a stocks and shares ISA can take longer
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.
Stocks & Shares ISAs
Types of Stocks and Shares ISA include:
Stocks and Shares ISAs
Latest News
ISA investment platforms 2020 - 5 things to consider
22nd January 2020
Your £20,000 a year tax-free ISA allowance should be the first investment you consider making every year. But before you choose your ISA you need to choose the platform you’re going to manage it on.
Newsletter Signup
Sign up to our Newsletter to get exclusive news and offers direct to your inbox.
About us
ISA.co.uk is a trading style of Fair Investment Company.
We've been comparing and recommending ISAs for many years so you can trust you're in good hands.
About usI found the way the different options are presented very clear - much more useful than some other comparison sites. I sent it to my daughter as well.
Very informative, find myself a good ISA account with best return in terms of interest.
Easy to use website and up to date. Saved the link on my tablet.
The website was very useful and informative.
ISA can be confusing at first and this site includes a useful and helpful introduction into the world of ISAs
Excellent website - clear and helpful information about different products - and a trustworthy partner.
Easy to use website and up to date. Saved the link on my tablet.
Really simple to use and all the information was clear with lots of products available. The interest calculator was really handy too. Have bookmarked and will definitely use again.
This was a really user-friendly site, and was very helpful when it came to comparing accounts and choosing my 2016 ISA.
Easy to use website and up to date. Saved the link on my tablet.
If you wish to invest in an ISA this site has it all. A super comprehensive range of simply explained products from all the major companies.
Very knowledgeble company with an extensive range of services, a great website with loads of useful information.
Nice graphics and easy to navigate
Good advice and professional approach
Very helpful for getting my annual ISA
Clear, concise and very professional outfit with an excellent choice of market leading deals.
ISA.co.uk not only helped narrow down my choices for a Junior ISA but also provided additional practical information that helped demystify the whole process.
Just the site I needed, I have been looking for a suitable ISA for a while, but as there are so many to choose from, find it difficult to find the right one for me.
I found the information on ISA.co.uk very helpful and easy to understand. The site is easy to navigate and find what you're looking for.
I found ISA.co.uk very insightful and easy to navigate through. The content was useful and helped me make my ISA decision.
I thought the information provided was easy to understand and very informative, I would recommend to friends for deffinite.