ISA rules 2026/27: every rule in one place
The main ISA rules for the 2026/27 tax year, each in a sentence or two with a link to the full guide. You can pay up to £20,000 into ISAs this tax year, you must be 18 or over and UK resident to open an adult ISA, and interest, income and gains inside an ISA are tax-free.
The short answer
- £20,000 a year across all your adult ISAs, in the tax year from 6 April to 5 April. Unused allowance does not carry forward.
- You must be 18 or over and UK resident to open an adult ISA. A Lifetime ISA must be opened before you turn 40; a Junior ISA is for children under 18.
- No tax on interest, income or gains inside an ISA, and nothing to declare on a tax return.
- The Cash ISA limit stays £20,000 from 6 April 2027: a planned cut to £12,000 for under-65s was cancelled in the Budget on 28 October 2026.
ISA limits for 2026/27
- Overall ISA allowance
- £20,000
- Per person, 6 April 2026 to 5 April 2027
- Lifetime ISA
- £4,000
- Inside the £20,000, with a 25% government bonus
- Junior ISA
- £9,000
- Per child, separate from your own allowance
- Cash ISA limit from 6 April 2027
- £20,000
- Planned cut to £12,000 cancelled
How much can you pay into ISAs?
Up to £20,000 a year across all your adult ISAs. The tax year runs from 6 April to 5 April, and a new allowance starts every 6 April. HMRC’s guidance says an unused allowance cannot be carried forward to the next year. See the ISA allowance and the ISA deadline.
What types of ISA are there?
gov.uk lists four adult ISAs: the Cash ISA, the Stocks and Shares ISA, the Innovative Finance ISA and the Lifetime ISA. Children under 18 can have a Junior ISA. Interest in a Cash ISA is tax-free; with the others your money can be invested, and with investments your capital is at risk. See what is an ISA and what is a Cash ISA.
Who can open an ISA?
You must be 18 or over and resident in the UK to open an adult ISA, or a member of the armed forces or a Crown servant, or their spouse or civil partner, if you live abroad. A Lifetime ISA must be opened before you turn 40. A parent or guardian opens a Junior ISA for a child under 18. See ISA age limits and how to open an ISA.
How many ISAs can you have?
As many as you like over time. Since 6 April 2024 you can pay into more than one ISA of the same type in the same tax year, such as two Cash ISAs, as long as the total stays within £20,000. You can only pay into one Lifetime ISA in a tax year. See how many ISAs you can have.
Can you have a joint ISA?
No. gov.uk says you cannot hold an ISA with someone else. Each adult has their own allowance, so two people can each pay up to £20,000 into ISAs in their own name. See can you have a joint ISA.
Can you take money out of an ISA?
Yes, from most ISAs, though the account’s own terms can limit how and when, and fixed rate accounts usually charge for early access. With a flexible ISA you can put money back in the same tax year without using more allowance. A Lifetime ISA charges 25% on most withdrawals, and money in a Junior ISA stays there until the child turns 18. See can you take money out of an ISA and flexible ISAs.
Can you move an ISA to another provider?
Yes. Ask the new provider to arrange a transfer, so the money keeps its tax-free status; if you withdraw it yourself, paying it in again uses your allowance. A transfer between Cash ISAs should take no more than 15 working days. A planned block on under-65s transferring a Stocks and Shares or Innovative Finance ISA into a Cash ISA is unconfirmed after the Budget. See ISA transfers.
Do you pay tax on an ISA?
No. gov.uk says you do not pay tax on interest on cash in an ISA, or on income or capital gains from investments in an ISA, and you do not declare them on a tax return. See do you pay tax on ISA interest and ISA interest paid monthly or annually. Savings outside an ISA are different, because interest above your allowances can be taxed: see the Personal Savings Allowance.
What if you pay in too much?
HMRC’s rules say the excess is removed from the ISA with any gains on it, and the rest of the ISA keeps its tax-free status. Tax can be due on interest the excess earned. Transfers between ISAs, and putting money back into a flexible ISA in the same tax year, do not count as new payments. See what happens if you pay too much into an ISA.
What changed for 2027?
The overall allowance stays at £20,000, and the Budget on 28 October 2026 cancelled the planned cut of the Cash ISA limit to £12,000, so the Cash ISA limit stays £20,000. A planned 22% charge on interest on cash held inside a Stocks and Shares or Innovative Finance ISA, and a planned block on under-65s transferring those ISAs into a Cash ISA, are not in the Budget documents and are unconfirmed. Interest inside a Cash ISA stays tax-free. Savings tax outside an ISA rises to 24%, 44% and 49% from 6 April 2027. See ISA changes 2027 and will Cash ISAs be taxed.
Questions people ask
What are the ISA rules for 2026/27?
You can pay up to £20,000 into ISAs between 6 April 2026 and 5 April 2027, split across cash, Stocks and Shares, Innovative Finance and Lifetime ISAs however you like, with no more than £4,000 in a Lifetime ISA. You must be 18 or over and UK resident to open an adult ISA, and interest, income and gains inside an ISA are tax-free.
Can I have more than one ISA?
Yes. Since 6 April 2024 you can pay into more than one ISA of the same type in a tax year, as long as the total stays within £20,000. You can only pay into one Lifetime ISA in a tax year. See how many ISAs you can have.
Can I have a joint ISA?
No. gov.uk says you cannot hold an ISA with someone else, so each ISA is in one person's name. Each adult has their own £20,000 allowance. See can you have a joint ISA.
Are the ISA rules changing in 2027?
Less than planned. The Budget on 28 October 2026 cancelled the cut of the Cash ISA limit to £12,000, so it stays £20,000. A planned 22% charge on cash in investment ISAs and a transfer block for under-65s are unconfirmed. Savings tax outside an ISA rises to 24%, 44% and 49%. See ISA changes 2027.
Sources
- 1 Individual Savings Accounts (ISAs), GOV.UK (gov.uk)
- 2 Individual Savings Accounts (ISAs): How ISAs work, GOV.UK (gov.uk)
- 3 Individual Savings Accounts (ISAs): Withdrawing your money, GOV.UK (gov.uk)
- 4 Individual Savings Accounts (ISAs): Transferring your ISA, GOV.UK (gov.uk)
- 5 How to manage ISA subscriptions (HMRC guidance for ISA managers), GOV.UK (gov.uk)
- 6 Lifetime ISA, GOV.UK (gov.uk)
- 7 Junior Individual Savings Accounts (ISA), GOV.UK (gov.uk)
- 8 Cash ISA limit reduction: tax information and impact note, GOV.UK (gov.uk)
- 9 ISA reform 2027: anti-circumvention rules factsheet, GOV.UK (gov.uk)