ISA allowance 2022/23
How much money can you put in an ISA?
With investment, your capital is at risk.
Because of their generous tax benefits, the Government limits how much money you can put into ISAs. For the 2022/23 tax year the ISA allowance is a generous £20,000. You can split your allowance across a Stocks & Shares ISA and Cash ISA or invest it all in either one. The Junior ISA allowance for investing for children is £9,000.
Your ISA allowance resets every year
At the beginning of each new tax year your annual ISA allowance resets. You cannot carry your allowance over between years, so if you don’t use it you lose it. In April 2016 the Government made changes that allow you to take money out of your ISA and replace it in the same tax year without using up your allowance.
Junior ISA allowance
This tax year you can pay up to £9,000 into a Junior ISA for a child. From age 16 a child can also have an adult cash ISA alongside their Junior ISA. They can still only keep £9,000 per tax year in the Junior ISA, but they could also save up to £20,000 extra in an adult cash ISA between age 16 and 18.
Historical ISA allowances
The ISA and Junior ISA allowances are reviewed each tax year (which runs from 6 April to 5 April). This table shows how both allowances have changed over the last few tax years.
| Tax year | ISA allowance | Junior ISA allowance |
| 2014/2015 | £15,000 | £4,000 |
| 2015/2016 | £15,240 | £4,080 |
| 2016/2017 | £15,240 | £4,080 |
| 2017/2018 | £20,000 | £4,128 |
| 2018/2019 | £20,000 | £4,260 |
| 2019/2020 | £20,000 | £4,368 |
| 2020/2021 | £20,000 | £9,000 |
| 2021/2022 | £20,000 | £9,000 |
| 2022/2023 | £20,000 | £9,000 |
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Important Information
Tax and ISA rules may be subject to change from time to time
With investment, your capital is at risk.
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