Your ISA allowance explained
How much you can save, what counts, and how to stay on top of it.
The current tax year runs from 6 April 2025 to 5 April 2026. You can save up to £20,000 across all your ISAs during this period, tax-free.
What is your ISA allowance?
Want tax-free interest? Here’s how our Instant Access stacks up against our Fixed Rate options.
Your ISA allowance is the total amount of money you can save across all your ISAs each tax year, without paying tax on the interest, returns or gains. For 2025/26, the limit is £20,000.
- New money paid into any type of ISA (e.g. Cash ISA, Stocks & Shares ISA or Lifetime ISA)
- Money you move from non-ISAs into an ISA
- The interest or returns you earn inside the ISA
- Money you take out of the ISA (unless the account allows you to replace it within the same tax year)
- Transfers between your own ISAs (if done properly through your provider)
Can you have more than one ISA?
Want tax-free interest? Here’s how our Instant Access stacks up against our Fixed Rate options.
Yes, and you can now subscribe to more than one ISA of the same type in the same tax year (as of April 2024).
- Your total yearly contributions must not exceed £20,000
- You must still follow transfer rules when moving funds between providers
This means you could, for example, pay into two Cash ISAs in the tax year (across two providers), as long as your combined contributions don’t exceed the annual limit.
The type of ISAs we offer
Want tax-free interest? Here’s how our Instant Access stacks up against our Fixed Rate options.
Once your Cash ISA is open, you can start the transfer. We’ll ask for a few details:
Instant Access Cash ISA – dip into your savings any time
Fixed Rate Cash ISA – lock in funds for a set term, with early withdrawals available subject to an early withdrawal fee after the 14-day window.
Both are tax-free and protected under FSCS up to £85,000.
Bring your ISA balance with you
Already have an ISA elsewhere? No problem. We make it easy to transfer your existing ISA savings, whether from this year or previous years.
Not all providers let you do this, but we think you should be able to grow your savings where it suits you best.
Who tracks your ISA allowance?
If you use multiple providers, you’re responsible for ensuring your total annual contributions (across all ISAs) stay within the £20,000 limit.
We track your ISA contributions with Tandem to make sure you don’t exceed the limit on our side.
Example of how you might use your allowance
The current tax year runs from 6 April 2025 to 5 April 2026. You can save up to £20,000 across all your ISAs during this period, tax-free.
(another provider)
(Tandem)
(another provider)
Got a question?
We’ve got answers! Explore our most common savings questions, or head to our full FAQ page to find more.
Yes, both our Instant Access and Fixed Rate Cash ISAs are flexible. That means you can withdraw and replace money in the same tax year without eating into your allowance. For example, if you deposit £20,000 but withdraw £5,000, you can still replace that £5,000 within the same tax year without exceeding your £20,000 limit.
Instant Access: withdraw and replace freely.
Fixed Rate: you can withdraw, but an early withdrawal penalty applies.
No – all interest earned in your ISA is completely tax-free and doesn’t use up your allowance.
Yes. You can now subscribe to more than one ISA of the same type in the same tax year (since April 2024). Just make sure your combined contributions don’t go over the annual £20,000 limit.
You can save up to £20,000 each tax year across all your ISAs (not just with Tandem). The overall amount a customer can hold across their Cash ISAs is £250,000.
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