ISA rules at a glance: 2026/27 and 2027/28
Correct as of . The ISA and tax rules on this page were last checked against gov.uk on this date. Figures are for the 2026/27 tax year unless a different year is stated.
The statements on this page about HMRC's tax-free savings newsletter 23 and the anti-circumvention factsheet were read on gov.uk on 5 October 2026, which is later than the date above.
The ISA allowance for 2026/27 is £20,000: the most that can be paid into ISAs in total in the tax year, whatever mix of ISA types is used. The table below sets out the other limits for 2026/27 and 2027/28, taken from our ISA rules table, which is checked against gov.uk. Each rule shows whether it is confirmed, made in law but not yet in force, or only announced, and links to its source. This page is general information, not financial advice.
ISA limits: 2026/27 and 2027/28
| Rule | 2026/27 | 2027/28 | Status | Source |
|---|---|---|---|---|
| Overall ISA allowance (all ISAs combined) | £20,000 | £20,000 | Confirmed | gov.uk |
| Cash ISA limit, under 65 | No separate limit (up to £20,000 in total) | £12,000 a year | Made in law (SI 2026/1018), not yet in force; applies from 6 April 2027 | gov.uk |
| Cash ISA limit, from the tax year you turn 65 | No separate limit (up to £20,000 in total) | £20,000 a year | Made in law (SI 2026/1018), not yet in force; applies from 6 April 2027 | gov.uk |
| Lifetime ISA limit (counts towards the overall allowance) | £4,000 | £4,000 | Confirmed | gov.uk |
| Lifetime ISA government bonus | 25%, up to £1,000 a year | 25%, up to £1,000 a year | Confirmed | gov.uk |
| Junior ISA limit (per child) | £9,000 | £9,000 | Confirmed | gov.uk |
| Transfers from a stocks and shares or Innovative Finance ISA to a cash ISA | Allowed | Allowed if the ISA holder is 65 or over at the end of the tax year (SI 2026/1018, regulation 13, which inserts regulation 21(4ZA)) | Made in law (SI 2026/1018), not yet in force; applies from 6 April 2027 | gov.uk |
| Interest on cash held in stocks and shares or Innovative Finance ISAs | No charge | Flat-rate charge at the savings basic rate in force for the year (the factsheet gives 22%) | Made in law (SI 2026/1018), not yet in force; applies from 6 April 2027 | gov.uk |
"Made in law" means the rule is in regulations that have been made but are not yet in force; "Announced" means the government has published the rule with a start date but the law has not yet been made. We show both in the 2027/28 column so you can plan ahead, but neither is the same as a rule already in force. Proposals that are still under consultation are not included in the table.
ISA rules: quick answers
What is the ISA allowance for 2026/27?
You can pay up to £20,000 into ISAs in the 2026/27 tax year, in one account or split across several. The tax year runs from 6 April to 5 April. The government has said the overall limit will stay at £20,000 until April 2031.
Is the cash ISA limit changing?
Regulations made on 10 September 2026 (SI 2026/1018, read on legislation.gov.uk on 6 October 2026) provide that from 6 April 2027, savers who are under 65 at the end of the tax year will be able to pay up to £12,000 a year into cash ISAs, within the overall ISA allowance. From the start of the tax year in which they turn 65, savers will be able to pay up to £20,000 a year into cash ISAs. Cash ISA changes explained.
Who can open an ISA?
You must be 18 or over and resident in the UK to open an ISA (gov.uk lists exceptions for some Crown servants). To open a Lifetime ISA you must also be under 40. Junior ISAs are for children under 18.
How many ISAs can I pay into in a year?
Since 6 April 2024 you can split your allowance between any ISA types, including more than one ISA of the same type, as long as the total stays within £20,000. You can only pay into 1 Lifetime ISA in a tax year. How many ISAs can I have?.
Can I take money out and put it back?
gov.uk says you can take your money out of an ISA at any time without losing any tax benefits, but check your account terms for any rules or charges. If your ISA is flexible, you can put cash back in the same tax year without using more allowance. With a non-flexible ISA, money paid back in counts as a new payment. Lifetime ISAs have different rules. ISA withdrawal rules explained.
How do ISA transfers work?
You can transfer all or part of an ISA to another provider at any time. Use the transfer process rather than withdrawing, or you lose that part of your allowance. Transfers between cash ISAs should take no longer than 15 working days, and other transfers no longer than 30 calendar days. Regulations made on 10 September 2026 (SI 2026/1018, regulation 13, which inserts regulation 21(4ZA), read on legislation.gov.uk on 6 October 2026) provide that, from 6 April 2027, transfers from a stocks and shares or Innovative Finance ISA to a cash ISA are allowed if the ISA holder is 65 or over at the end of the tax year. How to transfer ISA accounts.
What changes for cash held in a stocks and shares ISA?
Regulations made on 10 September 2026 (SI 2026/1018, regulation 15, read on legislation.gov.uk on 6 October 2026) provide that, from 6 April 2027, the account manager (the firm that runs the ISA) will have to pay HMRC a flat rate charge on interest or alternative finance returns paid or credited on cash held in a stocks and shares or Innovative Finance ISA (other than a Junior ISA, regulation 4). The regulations say the charge is set at the savings basic rate in force for the year and regulation 22A gives no percentage. The anti-circumvention factsheet gives the rate as 22%; the pages read do not state whether the savings basic rate for that year equals 22%. The regulations also add money market funds to the qualifying investments for a stocks and shares ISA on condition that 100% of the value of the investments other than cash is not money market funds, so they can be held but cannot make up the whole of the non-cash investments. The condition does not apply to Junior ISAs. The pages read do not say what the rule means for other ISA types.
What are the Lifetime ISA rules?
You can open a Lifetime ISA from 18 and must make your first payment before you are 40. You can pay in up to £4,000 a year until you are 50, and the government adds a 25% bonus (up to £1,000 a year). Withdrawals are free of the 25% withdrawal charge for a first home costing £450,000 or less (at least 12 months after your first payment), from age 60, or if you are terminally ill with less than 12 months to live. Lifetime ISA vs stocks and shares ISA.
What are the Junior ISA rules?
A child can have 1 cash Junior ISA and 1 stocks and shares Junior ISA, with up to £9,000 a year paid in across both in 2026/27. The money belongs to the child. They can manage the account from 16 and take money out from 18. Junior ISA calculator.
What happens to an ISA when someone dies?
No Income Tax or Capital Gains Tax is due on the ISA until it is closed, which happens when the executor closes it, when the estate's administration is complete, or 3 years and 1 day after the death. ISA investments form part of the estate for Inheritance Tax. A surviving spouse or civil partner may be able to pay in an extra amount on top of their own allowance. ISAs on death: the additional permitted subscription.
Is the Lifetime ISA being replaced?
The government consulted on a new First Time Buyer ISA that would be offered in place of the Lifetime ISA. The consultation ran from 22 June 2026 to 18 August 2026. It is a proposal only: no outcome had been published when this page was last checked, and nothing has changed for Lifetime ISA holders.
Tools that use these rules
- ISA Allowance Checker: how much allowance you have left this tax year.
- ISA Contribution Split Planner: splitting money between cash and stocks and shares.
- Cash ISA Calculator and ISA vs Savings Account Calculator.
- Lifetime ISA Calculator and Junior ISA Calculator.
- Guides: the different types of ISA and Lifetime ISA eligibility.
Sources
- gov.uk/individual-savings-accounts
- legislation.gov.uk/uksi/2026/1018/regulation/6/made
- gov.uk/government/publications/tax-free-savings-newsletter-19/tax-free-savings-newsletter-19-november-2025
- gov.uk/lifetime-isa
- gov.uk/lifetime-isa/withdrawing-money-from-your-lifetime-isa
- gov.uk/individual-savings-accounts/how-isas-work
- gov.uk/junior-individual-savings-accounts
- gov.uk/junior-individual-savings-accounts/open-an-account
- gov.uk/junior-individual-savings-accounts/manage-an-account
- gov.uk/guidance/manage-isa-subscriptions-for-your-investors
- gov.uk/individual-savings-accounts/withdrawing-your-money
- gov.uk/individual-savings-accounts/transferring-your-isa
- legislation.gov.uk/uksi/2026/1018/regulation/13/made
- legislation.gov.uk/uksi/2026/1018/regulation/15/made
- legislation.gov.uk/uksi/2026/1018/regulation/9/made
- gov.uk/individual-savings-accounts/if-you-die
- gov.uk/government/consultations/first-time-buyer-isa-consultation
- gov.uk/government/publications/reduction-in-the-cash-individual-savings-account-isa-limit/cash-individual-savings-account-isa-limit-reduction
- gov.uk/government/publications/fiscal-events-2026-factsheets/isa-reform-2027-anti-circumvention-rules-factsheet
- gov.uk/government/publications/tax-free-savings-newsletter-23/tax-free-savings-newsletter-23-september-2026
General information only, based on gov.uk guidance. It is not financial or tax advice.
Tax-year reminder emails
Get a short email before the tax year ends on 5 April and when the new one starts on 6 April.
We send up to four emails a year: three before the tax year ends (8 weeks, 3 weeks and 1 week before) and one on the first day of the new tax year. Each one states the tax-year dates and the ISA limits for that year, with a link to the ISA rules page. We send nothing else to this list.
General information only. Not financial advice.