ISA Allowance 2017/18 | The Share Centre

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ISA allowance
2017/18

How much can you invest and save
in your ISA 2017/18?

Your ISA allowance (or ISA limit) is set by the Government and specifies how much money you can invest or save in ISAs each tax year (06 April - 05 April next year). It usually increases each year, but you are not required to use all of it - use as much as you like! If you wish to, you can split your ISA allowance between a Stocks & Shares ISA, a Lifetime ISA (for 18-39 year olds), a Cash ISA and an Innovative Finance ISA. Please note that The Share Centre only offers Stocks & Shares ISAs and a Ready-made Lifetime ISA.

Your ISA limit 2017/18 is £20,000

If you choose, you can invest all of your 2017/18 ISA allowance in one of the types of ISA mentioned above. Alternatively, you could split it across all four, so let's take a look at how you could use it:  

Ways to use your ISA allowanceStocks & Shares ISALifetime ISA
 (18-39 yr-olds)
Cash ISAInnovative Finance ISATotal 2017/18 ISA allowance
Invest in a Stocks & Shares ISA only £20,000 £0 £0 £0 £20,000
Invest in a Lifetime ISA only £0 £4,000 £0 £0  £20,000
Invest in a combination of ISA types Split your allowance across ISA types however you choose, as long as the combined amount doesn't exceed £20,000 and you don't put more than £4000 in a Lifetime ISA. £20,000
Invest in a Cash ISA only £0  £0 £20,000 £0 £20,000
Invest in an Innovative Finance ISA only £0  £0 £0 £20,000 £20,000

Stocks & Shares ISA vs Cash ISA

How to make the most of your 2017/18 ISA Allowance

Here are a few ways to get the best out of your ISA allowance - it's too good to waste! 

  • Your ISA allowance doesn't roll over to next tax year, so use it or lose it! 
  • Ensure that you pay in some money before the tax year end. You can decide what to invest in later.
  • Be an early bird. Invest your allowance at the start of the tax year (6 April) for maximum benefit.
  • Use your new ISA allowances each year to continue adding to your ISA.
  • Your partner gets a 2017/18 ISA allowance too - encourage them to use it.

Want to invest more than your 2017/18 ISA limit?

Your ISA allowance is based on the amount you invest / save, not your investments' growth or interest. Once you've paid in your whole 2017/18 ISA allowance, you'll have to wait until the start of the next tax year to pay more money into your ISA. And remember, you can only subscribe to one of each of the ISA types each tax year.

If you want to invest more than your 2017/18 ISA limit, simply open a Share Account in addition to your ISA. You can invest as much as you like in a Share Account, since it doesn't have an annual limit, however you will have to pay some tax on any earnings.

Replace withdrawn money with our Flexible ISAs

Unlike many brokers, we offer the Government’s flexible ISA facility. This great benefit enables you to pay withdrawn money back into your Stocks & Shares ISA with us, without it counting towards your ISA allowance (as long as you do it in the same tax year). Please note the Flexible ISA rules do not apply to Lifetime ISAs.

Additional permitted subscriptions (APS)

In the unfortunate event that your spouse or civil partner dies, you may be entitled to an additional permitted subscription (APS). This means that, in addition to your 2017/18 ISA allowance, you will be able to invest the value of your deceased spouse’s ISAs, including the funds held within a Lifetime ISA plus any accrued government bonus, tax-efficiently. Please note that this benefit is only available for a limited time, related to your spouse’s estate.

As long as your spouse’s ISA was held with us, you can open a new Stocks & Shares ISA with The Share Centre to use your additional permitted subscription. Please note you cannot use this additional allowance directly within a Lifetime ISA at The Share Centre. If you inherited your spouse's ISA investments, you can transfer them into this new Stocks & Shares ISA (subject to market value), or you can pay in your own cash to use the APS. If your spouse's ISA was held with another provider, you can still use your APS by opening a new Stocks & Shares ISA with us, however you will only be able to pay in cash.

Junior ISA allowance 2017/18 is £4,128

If you choose, you can invest all of your child's 2017/18 ISA allowance in a Stocks & Shares Junior ISA or save it in a Cash Junior ISA (please note The Share Centre does not offer Cash Junior ISAs). Alternatively, you could use it across both. As well as paying into a Junior ISA, keen savers aged 16-18 are also permitted to save £20,000 in an adult Cash ISA in the 2017/18 tax year. Please bear in mind that your child cannot have both a Junior ISA and a Child Trust Fund, however it is possible to transfer their Child Trust Fund into a Junior ISA.

Lifetime ISAs

The Government  launched Lifetime ISAs on 6 April 2017, to help young people invest/save flexibly for the long term. The idea is that 18-39 year-olds will not have to choose between saving for retirement and their first home - they will be free to use some or all of the money to buy their first home, or keep it until they're 60. Capital Gains Tax and further Income Tax will not have to be paid on any profits made, similar to regular ISAs. Please note that Lifetime ISAs will not be beneficial to you if you are not prepared to wait until you're 60 to access your savings or if you're not a first time buyer.

Our Lifetime ISA

Our Lifetime ISA

If you're 18-39, save up for your first home or retirement with our hassle-free, Ready Made Lifetime ISA

Self Select ISA Provider 2017

Self Select ISA Provider 2017

Self Select ISA Provider of the year 2017 at the ADVFN awards.