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What is the 2017/2018 ISA Allowance?

The ISA allowance for the 2017/2018 tax year increased to £20,000 (from £15,240 in the 2016/2017 tax year).

The new tax year starts on the 6th April every year and since 6th April 2017 we are in the 2017/2018 tax year (this runs until 5th April 2018).

  • Individuals may save up to this amount in a cash ISA (remember - individuals may only save into one cash ISA but with NatWest they can split the allowance between a 'normal' cash ISA and a Help to Buy: ISA)

OR

  • Invest up to this amount in a stocks & shares ISA

OR

  • Invest up to this amount in an Innovative Finance ISA (ISA for peer to peer lending - not a type we offer)

OR

  • On 6th April 2017 a new type of ISA called Lifetime ISA launched in the UK. This has an annual allowance of £4,000 and individuals can save up to £4,000 in this and the rest (up to £16,000) in another ISA type. (This is not a type of ISA we offer at the current time)

OR

  • Split their £20,000 allowance between one of each type of ISA (e.g. - pay £10,000 into a cash ISA, £6,000 into a stocks & shares ISA and £4,000 in a Lifetime ISA)