Individual Savings Accounts (ISA)
An Individual Savings Account (ISA) is a great way to make the most of your tax-free savings limit and save for the future.
With an ISA you can save up to £7,200 each year and not pay UK tax on the income you receive from your savings or investment.
You can invest in 2 separate ISAs in any one tax year:
- Cash ISA
Save up to £3,600 of your tax-free ISA allowance in cash each year. Enjoy easy access to your money and still be tax efficient.
Read more about Cash ISAs
- Stocks & Shares ISA
Invest up to the full £7,200 ISA allowance in a choice of over 900 funds and make the most of your annual ISA allowance.
Read more about Stocks & Shares ISAs
The annual ISA investment allowance is £7,200 per tax year. Up to £3,600 of that allowance can be saved in a Cash ISA with one provider. The remainder of the £7,200 can be invested in a Stocks and Shares ISA with either the same or another provider.
Here are some ISA options at a glance:
| Option 1 |
Save up to £3,600 in cash and the balance of the £7,200 allowance in stocks and shares. |
| Option 2 |
Put the full £7,200 annual ISA allowance in stocks and shares. |
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| Option 3 |
Save up to £3,600 in cash then transfer this to stocks and shares and save a further £3,600 in cash. |
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The Facts
- UK residents aged 18 or over can choose from our full range of ISA products. 16-17 year olds can apply for a Cash ISA only.
- For ISA accounts, you must be resident for tax purposes in the UK.
- Cash ISAs Savings products provided by Standard Life Bank plc. All other ISA products managed by Standard Life Savings Limited.
- Any reference to legislation and taxation is based on Standard Life's understanding of law and HM Revenue & Customs practice at date of publication.
- ISAs attract tax reliefs, which the Government may alter in future. The value of these reliefs to you depends upon your own personal financial circumstances.
