The UK ISA Allowance Explained: £20,000 Across Four ISA Types (2026/27)
The UK ISA allowance for 2026/27 is £20,000 (HMRC), split as you choose across cash, stocks and shares, innovative finance and Lifetime ISAs. The Lifetime ISA takes up to £4,000 of it with a 25% government bonus; Junior ISAs have a separate £9,000 limit. Here are the published rules.
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Open calculatorWhat the ISA allowance is
You can save tax-free with Individual Savings Accounts (ISAs) (gov.uk). In the 2026 to 2027 tax year, the maximum you can save in ISAs is £20,000 (gov.uk).
Interest, dividends and gains earned inside an ISA sit outside the tax system entirely — which is why the wrapper pairs naturally with the Personal Savings Allowance and the dividend allowance covered elsewhere on this site.
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The four ISA types
There are 4 types of ISA: cash ISA, stocks and shares ISA, innovative finance ISA, Lifetime ISA (gov.uk).
The £20,000 maximum applies across ISAs as a whole (gov.uk). The Lifetime ISA limit of £4,000 counts towards your annual ISA limit (gov.uk) — it sits inside the overall figure rather than on top of it.
Who can open one
Three eligibility rules gate the account:
- You must be 18 or over to open an ISA (gov.uk).
- If you're opening a Lifetime ISA you must also be under 40 (gov.uk).
- You must also be either resident in the UK, a member of the armed forces or a Crown servant (gov.uk).
ISAs are individual by definition. You cannot hold an ISA with someone else (gov.uk). A couple therefore has two separate £20,000 allowances (gov.uk), one each.
The Lifetime ISA inside the allowance
You can put in up to £4,000 each year, until you're 50 (gov.uk). You must make your first payment into your ISA before you're 40 (gov.uk).
The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year (gov.uk).
The Lifetime ISA limit of £4,000 counts towards your annual ISA limit — this is £20,000 for the 2026 to 2027 tax year (gov.uk).
When you turn 50, you will not be able to pay into your Lifetime ISA or earn the 25% bonus (gov.uk).
Junior ISAs — the separate children's limit
You can get a Junior ISA for children under 18 (gov.uk). In the 2026 to 2027 tax year, the savings limit for Junior ISAs is £9,000 (gov.uk).
The child can take control of the account when they're 16, but cannot withdraw the money until they turn 18 (gov.uk).
A note on scope
This page covers the published HMRC rules: the £20,000 ISA allowance for 2026/27 (gov.uk), the four ISA types (gov.uk), the age and residence gates (gov.uk), the Lifetime ISA's £4,000 cap (gov.uk) and 25% bonus up to £1,000 (gov.uk), and the £9,000 Junior ISA limit (gov.uk).
The Lifetime ISA withdrawal charge, transfer rules between providers, and inherited-ISA (Additional Permitted Subscription) rules sit outside this page's scope. UK Calculator provides information and tools, not regulated financial advice — anyone weighing ISA choices against pensions or other wrappers should consult a regulated financial adviser.
Frequently asked questions
How much can I put in ISAs this tax year?
In the 2026 to 2027 tax year, the maximum you can save in ISAs is £20,000 (gov.uk).
What types of ISA exist?
There are 4 types of ISA: cash ISA, stocks and shares ISA, innovative finance ISA, Lifetime ISA (gov.uk).
How much can go into a Lifetime ISA?
You can put in up to £4,000 each year, until you're 50 (gov.uk). The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year (gov.uk).
Does the Lifetime ISA have its own separate allowance?
No. The Lifetime ISA limit of £4,000 counts towards your annual ISA limit (gov.uk).
Can a couple share one ISA?
No. You cannot hold an ISA with someone else (gov.uk).
How much can go into a Junior ISA?
In the 2026 to 2027 tax year, the savings limit for Junior ISAs is £9,000 (gov.uk).
When can a child access a Junior ISA?
The child can take control of the account when they're 16, but cannot withdraw the money until they turn 18 (gov.uk).
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