What are the rules around ISA allowances?

HMRC rules state that you can open and pay into one ISA of each type per tax year. This includes Stocks & Shares, Cash (including the Help to Buy ISA), and Lifetime ISAs. You’re able to deposit up to £20,000 across your ISAs each tax year, and this limit is split across all of the ISAs that you own.

For example, you could deposit £4,000 into a Lifetime ISA and £16,000 into a Stocks & Shares ISA within the same tax year if you wish!

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It's important you know

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest.

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