ISA Allowance 2020/2021

Important information - Investments can go down as well as up in value, so you could get back less than you put in. The information on this page is not advice - please ask us for advice if you’re not sure which investments are right for you. Tax rules for ISAs can change and their benefits depend on your circumstances.

This tax year you can invest up to £20,000 in ISAs.

You're free to split your ISA allowance any way you like across a Stocks and Shares ISA, Cash ISA, Lifetime ISA (maximum of £4,000) and an Innovative Finance ISA, as long as you stay within the overall limit.

So for example you could put £5,000 in a Cash ISA, £4,000 in a Lifetime ISA and the remaining £11,000 in a Stocks and Shares ISA.

The allowance is less for Junior ISAs. The limit this tax year is £9,000.

The tax year is 6 April to 5 April and the deadline for adding money is midnight 5 April.

See investment ideas

An ISA with a promise

Open an HL Stocks and Shares ISA, and if you’re not 100% satisfied with our service in your first 12 months, close your account and let us know. We’ll then refund our annual account charge – no questions asked.

Find out more and see full terms

Open an HL Stocks and Shares ISA

Once you've decided to invest your ISA allowance, it takes less than five minutes to get started. You'll just need a debit card and your national insurance number to hand. Remember that your investments can go down as well as up in value, so you could get back less than you put in.

Do-it-yourself

Choose from over 2,500 funds, shares, investment trusts and more to build your portfolio.

You’re in control of what you buy and sell
You’ll get expert research to help your decisions
Start your ISA from £100 or £25 per month

Open a Stocks and Shares ISA

Ready-made portfolios

Let us know your goals and risk appetite and we’ll show you a ready-made portfolio that matches.

We’ll buy and sell investments to match your goals and attitude to risk
Just keep an eye on your portfolio to make sure you’re happy
Start your ISA with £1,000 or more

Choose a ready-made portfolio

More about ISA limits and rules

How much can I invest?

Each tax year there's a limited amount of money you can put in an ISA. This limit is set by the government and is called the ISA allowance. In the 2020/2021 tax year, the allowance is £20,000.
You can split the ISA allowance across different types of ISAs, but you can only add money to one ISA of each type in a tax year. Lifetime ISA works differently – read more in our Lifetime ISA section.

It's a good idea to use as much of the ISA allowance as you can, because that way you'll be making the most of the ISA tax break for your money.
How does transferring affect my ISA allowance?

Transferring does not count towards your ISA allowance, which is £20,000 for the 2020/2021 tax year. Find out more about transferring an ISA to us.
What happens to my ISA allowance if I die?

If you were married or in a civil partnership with someone who died on or after 3 December 2014, you can apply for extra ISA allowance, called an Additional Permitted Subscription (APS). It allows your ISA to be transferred to your partner and increases their ISA allowance for that year.

Find out more about APS