Calculate the potential growth of your tax-free savings with our Individual Savings Account (ISA) calculator.
An Individual Savings Account (ISA) is a tax-free way to save or invest. You don't pay tax on interest, income or capital gains from an ISA.
The annual ISA allowance for the 2024/25 tax year is £20,000. This is the maximum you can save across all ISA types each tax year.
Simple savings accounts where you earn tax-free interest. Typically lower returns but with no investment risk.
Investment accounts that can hold stocks, bonds, funds and more. Higher potential returns but with investment risk.
For adults under 40 to save for a first home or retirement. The government adds a 25% bonus to your savings, up to £1,000 per year.
All interest, dividends, and capital gains earned within an ISA are completely free from tax, regardless of how much you earn.
ISAs offered by UK banks and building societies are protected under the Financial Services Compensation Scheme (FSCS).
Choose from various ISA types to suit your savings goals, whether it's saving for a first home, retirement, or general purposes.
The ISA allowance for the 2024/25 tax year is £20,000. This is the maximum amount you can put into ISAs in a tax year.
Yes, you can have multiple ISAs, even of the same type. However, you can only open one of each type of ISA per tax year, and your total contributions must not exceed your annual allowance of £20,000.
No, you don't need to declare any income or capital gains from ISAs on your tax return as they are tax-free.
A Lifetime ISA (LISA) offers a 25% government bonus on your contributions up to £4,000 per year. You must be aged 18-39 to open one, and the money can only be used for buying your first home or for retirement after age 60 (unless you're terminally ill).
For Cash ISAs and Stocks & Shares ISAs, you can usually withdraw money at any time, though some accounts may have restrictions or penalties. For Lifetime ISAs, withdrawals for purposes other than buying a first home or retirement will incur a 25% withdrawal charge.
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