Individual Savings Accounts (ISAs)

Compare high interest ISAs[1]

What's an ISA?

An ISA is a type of savings account that lets you save free from UK tax. You won’t have to pay tax on the interest or investment returns you earn on the money you put in.

Although basic-rate taxpayers can earn £1,000 interest in any type of savings accounts without paying tax, an ISA can let you avoid paying tax on larger sums of money amassed over many years.

Your allowance refreshes each year, so it gives you the potential to build up a sizeable tax-free nest egg.

They’re also beneficial to higher-rate and additional-rate taxpayers, as their tax-free interest allowance is £500 or £0 respectively in ordinary savings accounts.

How much can I put in?

Each year you get an ISA allowance. This sets the maximum amount you can save each tax year. The tax year runs from 6 April to 5 April.

This tax year, you can save up to £20,000 in an ISA. You can choose how to use this, spreading your allowance across the different types of ISA available if you want, although some ISAs have specific limits to the amount you can put in.


You can save up to £20,000 in ISAs this tax year

Save tax free

Use it or lose it Your ISA limit doesn’t ‘roll over’ to the next tax year if you don’t use it

Compare ISAs

ISA transfers

Many providers offer their best deals on new ISA accounts, meaning your previous years’ ISAs might be earning very low interest rates. Transferring to a new provider could make your savings work harder and give your tax-free savings more opportunity to grow.

So, if you’re opening a new ISA but want to add your money from previous ISAs too you’ll need to transfer. Check the ISA provider accepts them first.

It’s important to remember that if you withdraw money from an ISA, it’ll lose its tax-free status unless it’s in an account with ‘flexible’ features.

For instance, with a non-flexible ISA if you’ve paid in £10,000 in a tax year and withdrew £5,000, you could still only pay in another £10,000, not £15,000. But flexible ISAs allow withdrawals and re-deposits as long as they’re within the same tax year.

Not all ISAs have flexible features, so make sure the one you choose offers this if you think you’ll need it.

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