How much can I put into ISAs in 2026/27?

The total ISA allowance for 2026/27 is £20,000. You can split this across different ISA types (Cash ISA, Stocks & Shares ISA, Innovative Finance ISA, and Lifetime ISA) in any combination, as long as the total doesn't exceed £20,000. The Lifetime ISA has a separate sub-limit of £4,000 within this £20,000 total.

Can I have more than one ISA?

Yes. Since April 2024, you can open and pay into multiple ISAs of the same type in the same tax year, as long as your total contributions across all ISAs don't exceed the £20,000 annual allowance. Previously, you could only pay into one ISA of each type per tax year.

What happens if I go over the ISA limit?

HMRC may void the tax-free status of the excess contributions and any growth on them. If you accidentally exceed the limit, contact your ISA provider immediately — they may be able to remove the excess before HMRC takes action.

Should I use a Cash ISA or a savings account?

It depends on whether you've already used your Personal Savings Allowance (PSA). Basic rate taxpayers can earn £1,000 in savings interest tax-free, and higher rate taxpayers £500. If your savings interest is below your PSA, a regular savings account may offer higher rates. If you're earning above your PSA, a Cash ISA shelters your interest from tax permanently.

What is a Lifetime ISA and who should use one?

A Lifetime ISA (LISA) lets adults aged 18-39 save up to £4,000 per year and receive a 25% government bonus (up to £1,000 per year). The money can be used to buy your first home (worth up to £450,000) or withdrawn after age 60. Withdrawing for any other reason incurs a 25% penalty, which means you lose money. LISAs suit first-time buyers and those wanting to supplement their pension.

Can I transfer ISAs between providers?

Yes. You can transfer ISAs between providers without losing the tax-free status or using up your annual allowance. You must use the official ISA transfer process — withdrawing the money and redepositing it elsewhere would count as a new subscription and use your allowance.

ISAs — The Complete UK Guide (2026) | PocketWise

ISAs — The Complete UK Guide (2026)

Everything you need to know about Individual Savings Accounts in 2026/27. Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs, Junior ISAs — allowances, rules, transfers, and which ISA is right for you.

By PocketWise · 8 April 2026 · 6 min read

Individual Savings Accounts (ISAs) are the UK’s most popular tax-efficient savings and investment wrapper. Every UK resident aged 16 and over (18 for Stocks & Shares and Lifetime ISAs) has an annual ISA allowance of £20,000 — money saved or invested within an ISA grows completely free from income tax and capital gains tax, with no need to declare it on your tax return.

Since their introduction in 1999, ISAs have evolved from a simple cash savings product into a flexible family of accounts covering cash savings, stock market investments, peer-to-peer lending, and even first-home deposits. The rules have become more generous over time — since April 2024, you can now open multiple ISAs of the same type in one tax year, making it easier to spread your money across providers.

Understanding the different ISA types, their rules, and which combination suits your goals is one of the most important financial decisions you can make. Whether you’re building an emergency fund, saving for your first home, investing for the long term, or planning for retirement, there’s an ISA designed for you.

This guide brings together every ISA article on PocketWise, organised by ISA type and topic, so you can find exactly the information you need.

ISA Essentials

Start here if you’re new to ISAs or want a refresher on the fundamentals.

Types of ISA Explained — A clear breakdown of the four ISA types available in the UK: Cash, Stocks & Shares, Innovative Finance, and Lifetime.
ISA Allowance Guide — How the £20,000 annual allowance works, how to split it across different ISA types, and what happens to unused allowance.
ISA Allowance 2026/27 — Current allowance limits for the 2026/27 tax year, including the Lifetime ISA and Junior ISA sub-limits.
ISA Limits Quick Reference — A quick-reference table of all ISA allowances and limits for the current tax year.
ISA Deadline Guide — Key dates for the ISA tax year, including the April 5 deadline and why timing matters for maximising your allowance.
ISA Season 2026 Guide — What ISA season means, the best deals available, and how to make the most of the end-of-tax-year rush.
ISA Myths Debunked — Common misconceptions about ISAs cleared up, from “ISAs are only for savers” to “you lose your allowance if you withdraw.”
Can I Have Two ISAs? — The current rules on holding multiple ISAs of the same type, including the 2024 rule change.
What Happens If You Go Over the ISA Limit? — Consequences of exceeding the annual ISA allowance and how to rectify the situation.

Cash ISAs

Cash ISAs are the simplest ISA type — your money earns interest tax-free with the security of FSCS protection.

Best Cash ISA Rates — A comparison of the best easy access, fixed-rate, and notice Cash ISA rates currently available.
Should I Use a Cash ISA or Savings Account? — A decision framework based on your Personal Savings Allowance, tax rate, and savings goals.
Cash ISA vs Premium Bonds — Comparing guaranteed Cash ISA interest against the prize-based returns of Premium Bonds.
Flexible ISA Explained — How flexible ISAs let you withdraw and replace money in the same tax year without using up your allowance.
ISA Calculator — Work out how much your ISA could be worth over time based on your contributions and expected returns.
NSI vs Cash ISA vs Savings Account — Comparing National Savings products, Cash ISAs, and high-street savings accounts to find the best home for your cash.

Stocks & Shares ISAs

For longer-term growth, Stocks & Shares ISAs allow tax-free investing in funds, shares, bonds, and other assets.

Stocks & Shares ISA Guide — A comprehensive guide to investing through a Stocks & Shares ISA, including what you can hold, fees, and how to get started.
How to Open a Stocks & Shares ISA — A step-by-step walkthrough for opening your first investment ISA, choosing a provider, and selecting your investments.
Cash ISA vs Stocks & Shares ISA — Comparing the risk, returns, and suitability of cash versus investment ISAs for different goals and time horizons.
Stocks & Shares ISA vs Cash ISA — A detailed comparison of long-term returns, tax treatment, and when each type is the better choice.
Best ISA Providers — Our comparison of the top ISA providers across Cash, Stocks & Shares, and Lifetime ISAs.

Lifetime ISAs

The Lifetime ISA (LISA) offers a 25% government bonus for first-time buyers or retirement savings — but comes with penalties for other withdrawals.

Lifetime ISA Guide — Everything you need to know about LISAs: the 25% bonus, the £4,000 annual limit, eligible property purchases, and the withdrawal penalty.
Help to Buy vs LISA Explained — Comparing the Help to Buy ISA (now closed to new applicants) with the Lifetime ISA for first-time buyers.
Lifetime ISA vs Help to Buy ISA — Key differences between the two first-home savings schemes and which offers better value.
Should I Put My Deposit in a LISA or ISA? — A decision guide for first-time buyers weighing up the LISA bonus against flexibility and property price limits.
Is the Lifetime ISA Penalty Worth It? — When it might make financial sense to accept the 25% withdrawal penalty on a LISA.
What Happens If You Withdraw from a LISA Early? — The exact mechanics of the early withdrawal charge and how much you’ll actually lose.

Junior ISAs

Tax-free savings and investing for under-18s, managed by a parent or guardian.

Junior ISA Guide — How Junior ISAs work, the current £9,000 annual allowance, Cash vs Stocks & Shares options, and what happens when your child turns 18.

ISA Transfers

Moving ISAs between providers to get better rates or lower fees.

ISA Transfer Rules Guide — The official transfer process, how long transfers take, and what to watch out for when moving cash or investment ISAs.

ISAs vs Other Tax-Efficient Options

How ISAs compare with pensions, Premium Bonds, and other tax-efficient savings vehicles.

ISA vs Pension Comparison — A detailed comparison of ISAs and pensions for long-term wealth building, covering tax relief, access, and flexibility.
Pension vs ISA — Should you prioritise your pension or your ISA? A guide based on your age, tax rate, and financial goals.
Pension vs ISA Calculator — A tool-based guide to modelling the long-term value of pension vs ISA contributions at different tax rates.
Should I Max Out ISA or Pension First? — Practical guidance on the optimal order of tax-efficient contributions for most UK savers.
ISA vs Premium Bonds — How ISAs compare with NS&I Premium Bonds on returns, tax, access, and risk.
Can I Salary Sacrifice into an ISA? — Whether salary sacrifice can be used for ISA contributions (and why pensions are typically better for this).
SIPP vs LISA Comparison — Comparing the Self-Invested Personal Pension with the Lifetime ISA for retirement saving.
ISA Millionaire Guide — How to build a million-pound ISA pot over time through consistent investing and the power of compound growth.

Innovative Finance ISAs

For investors interested in peer-to-peer lending within a tax-free wrapper.

Innovative Finance ISA Guide — How IFISAs work, the risks involved, typical returns, and how they fit alongside Cash and Stocks & Shares ISAs.