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How much can I put into an ISA?

How much can I put into an ISA?

By: Peter Stephens | 29th May 2020

An ISA is a means of saving or investing that is not subject to tax that may be levied on other types of account. As such, an ISA can help to improve your financial outlook through reducing the amount of tax you pay on your cash or investments. There are, though, limits on how much you can invest in the different types of ISA each year. Read on to find out what these limits are for the range of ISAs available.

Annual allowances for different ISAs

You can contribute up to £20,000 per year across the following five types of ISA. This £20,000 can be apportioned however you please, although there is a restriction on Lifetime ISAs, of £4,000 per year, and on Help to Buy ISAs, of £2,400 per year.

In addition to the types of ISA above, there is also the Junior ISA, the annual allowance for which is separate from the combined £20,000 allowance for the other types of ISA:

Do repayments count towards annual allowance?

Some ISAs are flexible. They allow cash to be withdrawn and paid back within the same tax year without reducing the annual allowance.

Other ISAs, though, are not flexible. The annual allowance is fixed and amounts withdrawn above the £20,000 allowance per year cannot be repaid in full within the same tax year.

Whether an ISA is flexible or not depends on the provider, so it is worth checking this before applying.


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