ISA Allowance 2026/27: the £20,000 Limit and Rules
Quick answer
You can pay up to £20,000 into ISAs in the 2026/27 tax year, and the same limit applies in 2027/28. You can put all of it into cash: the planned £12,000 cash ISA cap was scrapped in the Autumn Budget on 28 October 2026.
- Split it across as many ISAs as you like, including two of the same type.
- Lifetime ISA: up to £4,000, which counts towards your £20,000.
- Junior ISA: £9,000 per child, on top of your own allowance.
- Unused allowance does not carry over. It resets on 6 April.
Sources: GOV.UK (How ISAs work, Lifetime ISA, Junior ISAs, Tax-free savings newsletter 19) and the Autumn Budget 2026. Checked 7 November 2026.
This guide covers how the ISA allowance works, what the Autumn Budget changed for 2027, and the rules that most often catch people out.
The information provided on this page and throughout the website is for general information purposes only and does not constitute financial advice. It is important that you conduct your own research and consider your own personal circumstances before making any investment decisions.
ISA allowance 2026/27 at a glance
| Limit | 2026/27 (now) | 2027/28 |
|---|---|---|
| Overall ISA allowance | £20,000 | £20,000 |
| Most you can pay into cash ISAs | £20,000 | £20,000 |
| Lifetime ISA (counts towards the £20,000) | £4,000 | £4,000 |
| Junior ISA (per child, separate) | £9,000 | £9,000 |
| Transfers from stocks and shares to cash ISAs | Allowed | Allowed |
Sources: GOV.UK How ISAs work, Lifetime ISA and Junior ISAs; Autumn Budget 2026: cash ISA limit kept at £20,000; Tax-free savings newsletter 19 (limits frozen to April 2031). Checked 7 November 2026.
What is the ISA allowance for 2026/27?
For the 2026/27 tax year, which runs from 6 April 2026 to 5 April 2027, you can pay up to £20,000 into ISAs. You do not pay tax on interest, income or capital gains inside an ISA, and you do not need to declare them on a tax return.
There are four types of adult ISA: cash, stocks and shares, innovative finance and the Lifetime ISA. You must be 18 or over and UK resident to open one, and under 40 to open a Lifetime ISA. The allowance is per person, so a couple can shelter up to £40,000 between them.
How you can split your ISA allowance
You can put the whole £20,000 into a single account or spread it across several. Since April 2024 you can also pay into more than one ISA of the same type in the same tax year, which was not allowed before.
GOV.UK gives this as an example of a valid split for one tax year:
- £10,000 into one cash ISA
- £3,000 into a second cash ISA
- £7,000 into a stocks and shares ISA
The one exception is the Lifetime ISA. You can only pay into one in a tax year, and the most you can put in is £4,000, which counts towards your £20,000. If you want to know how many accounts you can hold, our guide on how many ISAs you can have covers it in detail.
How much allowance do I have left?
Add up what you have paid in since 6 April 2026. Your providers cannot see each other's accounts, so this total is yours to keep track of.
That is over the £20,000 limit. Contact your ISA provider or the HMRC ISA helpline to put it right.
The most you can pay into a Lifetime ISA is £4,000 a year.
The 2027 cash ISA cut was cancelled
At Autumn Budget 2025 the government announced that, from 6 April 2027, the most someone under 65 could pay into cash ISAs each year would fall to £12,000. It also set out rules to stop that limit being worked around: no transfers from stocks and shares ISAs back into cash ISAs for under-65s, and a flat 22% charge on interest paid on cash held inside a stocks and shares or innovative finance ISA.
The Autumn Budget on 28 October 2026 cancelled the package. The cash ISA limit stays at £20,000 for everyone, transfers between cash and stocks and shares ISAs remain possible in both directions, and interest on cash inside a stocks and shares ISA stays tax-free. The change keeping the £20,000 limit is being made through regulations due in November 2026. Our explainer on the cash ISA limit covers what was planned and what was dropped.
Still being worked out: the government will explore a new incentive for people investing in a stocks and shares ISA for the first time. There are no details or dates yet, and we will update this page when there are.
Lifetime ISA allowance
You can pay up to £4,000 a year into a Lifetime ISA until you turn 50, as long as you made your first payment before 40. The government adds a 25% bonus, worth up to £1,000 a year.
You can use the money to buy your first home costing £450,000 or less, at least 12 months after your first payment, or withdraw it from age 60. Taking money out for any other reason normally triggers a 25% withdrawal charge, which can leave you with less than you paid in. Since 29 October 2026 the charge is 20% if you use the money to buy a first home costing more than £450,000.
The Autumn Budget also confirmed a new First-Time Buyer ISA from April 2029. You can still open a Lifetime ISA until then, and existing accounts carry on as normal.
Junior ISA allowance
The Junior ISA limit for 2026/27 is £9,000 per child. It is separate from your own £20,000, so paying into a child’s Junior ISA does not reduce your allowance.
A child can have a cash Junior ISA, a stocks and shares Junior ISA or both. The money belongs to the child: they can take control of the account at 16 but cannot withdraw until they turn 18.
Do withdrawals and transfers use up your allowance?
Withdrawals: it depends on whether your ISA is flexible. With a flexible ISA you can take money out and put it back in the same tax year without using more allowance. With a non-flexible ISA, money you take out cannot be replaced without counting again.
GOV.UK’s example: you pay £10,000 into an ISA in 2026/27 and later withdraw £3,000. You could then pay in £13,000 more if the ISA is flexible, but only £10,000 if it is not. Your provider can tell you which type you have.
Transfers: moving an ISA to another provider through a proper transfer keeps its tax-free status. Always start the transfer with the new provider. If you withdraw the money and pay it in yourself, you cannot reinvest that part of your allowance. Transfers between cash ISAs should take no more than 15 working days, and other transfers no more than 30 calendar days. Our guide to ISA transfer rules covers the process step by step.
What if you pay in more than the allowance?
Each provider can only see what you pay into its own accounts, so if you use several ISAs it is up to you to keep a running total for the tax year. If you think you have gone over the limit, contact your ISA provider or the HMRC ISA helpline to sort it out rather than leaving it.
When does the ISA allowance reset?
The allowance resets at the start of each tax year on 6 April. Any part of this year’s £20,000 you have not used by 5 April 2027 does not roll over, but money already in your ISAs stays tax free for as long as you keep it there.
If you are deciding where to use this year’s allowance, our comparisons of the best stocks and shares ISAs and best cash ISAs are a good starting point. Remember that with a stocks and shares ISA your capital is at risk.
ISA allowance by tax year
The adult allowance has been £20,000 since April 2017 and is frozen at that level until April 2031. Junior ISA limits are shown alongside.
| Tax year | Adult ISA allowance | Junior ISA |
|---|---|---|
| 2027/28 to 2030/31 | £20,000 | £9,000 |
| 2020/21 to 2026/27 | £20,000 | £9,000 |
| 2019/20 | £20,000 | £4,368 |
| 2018/19 | £20,000 | £4,260 |
| 2017/18 | £20,000 | £4,128 |
| 2015/16 and 2016/17 | £15,240 | £4,080 |
| 2014/15 (from 1 July 2014) | £15,000 | £4,000 |
Limits to April 2031 are frozen by the government (GOV.UK Tax-free savings newsletter 19). Earlier limits from Ross Martin Tax Guides°. Before 1 July 2014 the 2014/15 limit was £11,880. ° Third-party source.
ISA allowance FAQs
Where to use this year’s allowance
With a stocks and shares ISA your capital is at risk. The value of investments can fall as well as rise.
