An ISA (Individual Savings Account) lets you save or invest money without paying tax on any income or gains. Each tax year, you can add up to your ISA allowance, which limits how much you can contribute.
How does the ISA allowance work?
You can add up to £20,000 across all your ISAs each tax year, 6 April 2025 to 5 April 2026.
This limit applies to the total across all your ISAs. For example, if you have a Stocks & Shares ISA and a Cash ISA, you can’t exceed £20,000 combined.
You decide how to split your allowance, all in one ISA or spread across different types and providers.
Can I rollover my unused ISA allowance for the next tax year?
No, your allowance resets each tax year.
If you don’t use it, you lose it, unused allowance cannot be carried forward.
What are the ISA types?
- Cash ISA
- Stocks & Shares ISA
- Innovative Finance ISA
- Lifetime ISA
- Junior ISA
📄 Note
At Trading 212, you can have a Cash ISA and a Stocks & Shares ISA.
Can I have multiple ISAs?
Yes, you can open different types of ISAs with different providers. However, you must make sure you don’t contribute more than £20,000 in total per tax year across all of them.
At Trading 212, you can open only one of each type, one Cash ISA and one Stocks & Shares ISA.
What happens if I pay too much into my ISA?
If you go over your £20,000 annual allowance, HMRC will be notified. The excess amount won’t qualify for tax-free benefits and may be taxed as regular savings.
If this happens, HMRC will instruct your provider to repair your ISA by removing the excess funds and any associated gains or interest.
If you notice that you’ve overpaid, don’t move the money yourself, contact your provider instead.
At Trading 212, if you’ve oversubscribed, we’ll remove the excess funds and either:
- move them to your Invest account, or
- return it to your verified bank account if you don’t have an Invest account.
Can I withdraw from ISAs?
Yes, Trading 212 ISAs are flexible. You can withdraw funds at any time and replace them without affecting your £20,000 annual limit, as long as you:
- re-deposited current tax-year funds into the same or any other ISA, flexible or not; and
- return previous tax year funds to the same ISA account you withdrew from within the same tax year.
Can I open an ISA?
You can open an ISA if you:
- are a UK tax resident
- are at least 18 years old
- provide your National Insurance number when applying
Can I open a joint ISA with a partner?
No, ISAs are individual accounts and can only be opened in your name.
Can someone else pay into my ISA?
No, only you can make payments into your ISA, from an account or card held in your name.
Can I keep my ISA if I move abroad?
If you move abroad after opening your Trading 212 ISA:
- You can keep your existing ISA and keep earning tax-free returns.
- You cannot add new funds unless you’re a Crown employee (or their spouse/civil partner) working overseas.
- You must inform us when you move abroad.
If you later return to the UK and become a tax resident again, you can resume contributing.
What happens to my ISA when I die?
When you pass away, your ISA becomes a ‘continuing ISA’ for up to three years, or until your estate is settled.
No one can add new funds during this time, but your existing investments stay tax-free.
If your estate is worth more than £325,000, your ISA may be subject to inheritance tax, unless it’s inherited by a spouse or civil partner.
If left to your spouse or civil partner, it stays tax-free.
If you have a Stocks & Shares ISA, your executor can:
- sell the investments and pay the proceeds to your beneficiary, or
- transfer the investments directly without selling.
What is an additional permitted subscription?
Upon your passing, your spouse or civil partner inherits an extra one-off ISA allowance equal to the value of your ISA when you die or when it’s closed, whichever is higher. This is called an Additional Permitted Subscription (APS).
It’s separate from their own annual ISA allowance and applies to each ISA you held.
You can learn more here: Additional Permitted Subscriptions (APS) Transfers