Using your ISA allowance and this year’s limit
Because of their generous tax benefits, the Government sets limits on the amount you can put into ISAs. Each tax year (6 April-5 April) we get an ISA allowance.
- You are able to invest your ISA in any combination between cash, and stocks and shares, up to the 2016/17 allowance limit of £15,240.
- The 2016/17 allowance for a Junior ISA is £4,080. This can also be fully invested as stocks and shares, cash, or a combination of the two.
- Along with having a Junior ISA held in their name, children aged 16 or 17 can invest up to £15,240 in an adult ISA, but can only hold cash.