ISAs are tax-efficient accounts for your savings and investments. Every tax year you get an ISA allowance which is the total maximum amount that you can save in your ISA until the start of the new tax year in April when your allowance is reset.

Any remaining allowance not used by 5 April can’t be carried over – so you either use it that year or lose it forever.

The current ISA allowance for Tax Year 2017/18 is

£20,000

Changed from:

£15,240 on 6 April 2017

Investment returns aren't guaranteed. The value of your investment can go up or down and may be worth less than what was paid in.

Laws and tax rules may change in the future. The information here is based on our understanding in April 2017. Personal circumstances also have an impact on tax treatment.