Stocks and shares ISA

• The adult ISA allowance for 2026/27 is £20,000. That is the total you can add across cash, stocks and shares, and innovative finance ISAs in the tax year.
• A stocks and shares ISA can hold listed shares and funds. Growth and dividends inside the ISA are free of UK income tax and capital gains tax.
• Unused ISA allowance does not carry into the next tax year. Withdrawing money does not automatically give the allowance back, unless the ISA is a flexible ISA.
• You can open more than one ISA of the same type in the same tax year, as long as the combined new subscriptions stay within £20,000.
• The Lifetime ISA has its own £4,000 limit, which counts toward the £20,000 allowance. You must be 18 or over and under 40 to open one.

This is general information, not personal advice. Check GOV.UK for the current rules.