ALLOWANCES
The tax year for 2022 to 2023 runs from April 6th 2022 to April 5th 2023. The ISA allowances for all ISA products remain unchanged for 22/23:
ISA Allowance – £ 20,000 (Same for Cash ISA, Stock & Stocks ISA & Innovative ISA)
JISA Allowance – £ 9,000 (Same for Cash JISA and Stocks and Shares ISA)
LISA Allowance – £ 4,000
ONE ISA PER TYPE PER YEAR
You can split your ISA allowance of £ 20,000 across all of the adult ISA products, e.g., in this tax year you could subscribe £ 10,000 to a Cash ISA, £ 6,000 to a Stocks and Shares ISA and £ 4,000 to a LISA.
A child can also split their £ 9,000 annual allowance between a Cash JISA and a Stocks and Shares JISA.
You cannot subscribe to more than one ISA of the same type within the same tax year, e.g., you cannot subscribe £ 10,000 to a Cash ISA with provider A and £ 10,000 to provider B.
AGE LIMITS
Cash ISA – 16 years of age or older
Stocks and Shares ISA – 18 years of age or older
JISA – Under 18 years old
LISA – Between the ages of 18 and 39.