ISA Account Allowance Limits
Current ISA allowances for tax year 22/23 are as follows:
ISA accounts (including Cash, Stocks and Shares and Innovative ISAs) – £ 20,000.00
JISA accounts (Junior ISAs for children under the age of 18, including Cash and Stocks and Shares JISAs) – £ 9,000.00
LISA accounts(LIfetime ISAs for adults between the ages of 18 – 39) – £ 4,000.00
Note, investing in a LISA will use up part of your overall ISA allowance of £ 20,000.00 e.g., if an investor pays £ 4,000.00 into a LISA account, then they will only have £ 16,000.00 left of their annual ISA allowance left to invest in a Cash or Stocks and Shares ISA in the same tax year.