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What is the ISA allowance?

The ISA allowance for both the 2017/2018 and 2018/2019 tax years is £20,000 (it increased from £15,240 in the 2016/2017 tax year).

The new tax year starts on 6th April each year and up until 5th April 2018 is the 2017/2018 tax year, then from 6th April 2018 to 5th April 2019 is the 2018/2019 tax year.

  • Individuals may save up to this amount in a cash ISA (remember - you may only save into one cash ISA but with Royal Bank of Scotland you can split the allowance between a 'normal' cash ISA and a Help to Buy: ISA)

OR

  • Invest up to this amount in a stocks & shares ISA

OR

  • Invest up to this amount in an Innovative Finance ISA (we do not offer an ISA for peer to peer lending)

OR

  • On 6th April 2017 a new type of ISA called Lifetime ISA launched in the UK. This has an annual allowance of £4,000 and you can save up to £4,000 in this and the rest (up to £16,000) in another ISA type. We don't currently offer Lifetime ISAs

OR

  • Split your £20,000 allowance between one of each type of ISA (e.g. pay £10,000 into a cash ISA, £6,000 into a stocks & shares ISA and £4,000 in a Lifetime ISA)