The income from ISA investments is exempt from income tax and any capital gains made on investments held in an ISA are exempt from capital gains tax.
Savers are able to subscribe any amounts into a cash ISA, a stocks and shares ISA or an innovative finance ISA subject to not exceeding the overall annual investment limit.
Investors may transfer their investments from one kind of ISA to another.
| Limits | 2018/19 | 2018/18 |
|---|---|---|
| Overall annual investment limit | £20,000 | £20,000 |
| Junior ISA annual investment limit3 | £4,260 | £4,218 |
| Help to Buy ISA monthly subscription limit Initial deposit limit £1,200 | £200 | £200 |
| Lifetime ISA annual investment limit | £4,000 | £4,000 |