The following explains what transactions are allowed and what transactions are not allowed in an Individual Savings Account (ISA), with examples of each.
Example of allowed transactions
- An individual subscribes GBP 10,000 into one stocks and shares ISA, GBP 2,000 into another stocks and shares ISA, and GBP 8,000 into a cash ISA. The total subscriptions for the tax year are GBP 20,000, and the annual ISA allowance has not been exceeded.
Important: From 6 April 2024, individuals can subscribe to multiple ISAs of the same type within the annual ISA allowance.
Example of disallowed transactions
- An individual subscribes a total of GBP 22,000 across their ISAs during the same tax year, exceeding the annual ISA allowance of GBP 20,000.
Additional Information