Can you have a joint ISA?

Can you have a joint ISA?

No. An ISA belongs to one person. gov.uk’s guide to ISAs says, under “Who can open an ISA”: “You cannot hold an ISA with someone else.” That applies to every type of ISA, and it includes your spouse or civil partner.

The ISA Regulations 1998, the legal rules providers follow, say the same thing. An ISA is an account “to which only one qualifying individual subscribes” (regulation 4(1B)(c)). The regulations also require an ISA’s terms to secure that its investments are in the beneficial ownership of the person who holds it (regulation 4(6)(a)). So each ISA is one person’s, not a shared pot.

ISAs for couples, at a glance

Joint ISAs

Not allowed

Every ISA is held by one person

ISA allowance per person, 2026/27

£20,000

Allowance for two people, 2026/27

£40,000

£20,000 each, in separate ISAs

Interest on a joint savings account

Split equally

Between the account holders, for tax

How much can a couple save in ISAs?

Up to £40,000 a year between them, because each person has their own allowance. gov.uk says the most you can save in ISAs in the 2026 to 2027 tax year is £20,000. The ISA Regulations set that limit for each qualifying individual, not for each household. Two people each using the full allowance is £20,000 plus £20,000.

The limits are tested for each person separately. The Budget on 28 October 2026 cancelled the planned cut of the Cash ISA limit to £12,000 for savers 64 or under, so both limits stay £20,000 each. See the Cash ISA limit.

Can couples save together without a joint ISA?

Yes. Each person opens their own ISAs and pays in up to their own allowance. The savings stay in each person’s name, and gov.uk says you do not pay tax on interest on cash in an ISA. If one of you pays into the other’s ISA, the money has to become theirs first: see can you pay into your partner’s ISA.

Each person can split their allowance across several ISAs. gov.uk says you can save up to £20,000 in one account or split the allowance across multiple accounts. HMRC says that since 6 April 2024 you can pay into more than one ISA of the same type in a tax year, within the limits. See how many ISAs you can have.

What about a joint savings account?

A joint savings account is an ordinary savings account in two or more names, held outside an ISA, so its interest can be taxed. gov.uk says HMRC will split the interest earned equally between the account holders. It also says you can contact HMRC if you think the interest should be split differently.

Each person’s share counts towards their own savings interest, and tax is due only if their total goes above their own allowances. gov.uk lists those allowances as your Personal Allowance, the starting rate for savings and your Personal Savings Allowance. The Personal Savings Allowance is £1,000 for a basic rate taxpayer, £500 for a higher rate taxpayer and £0 for an additional rate taxpayer. Interest on cash inside each person’s own ISA is outside all of this.

FSCS says joint accounts are protected up to £120,000 per eligible person. See how FSCS protects ISA savings.

What happens to a spouse’s ISA when they die?

If your spouse or civil partner dies, you can inherit their ISA allowance. For a death on or after 6 April 2018, gov.uk says you can add a tax-free amount to your normal ISA allowance. The amount can be up to either the value they held in their ISA when they died or the value of the ISA when it is closed. HMRC’s guidance for providers says the allowance is the higher of the two values.

This is called an additional permitted subscription. It is separate from who receives the money in the ISA, because gov.uk says ISA savings go to the named beneficiary in the will. The ISA itself becomes a continuing account of a deceased investor, and gov.uk says no new payments can be made into it.

HMRC says you and your spouse or civil partner must have been living together at the date of death, and that providers do not have to accept an additional permitted subscription. See what happens to your ISA when you die for the time limits.