About ISAs
ISAs (Individual Savings Accounts) are tax efficient accounts to save or invest into.
Each tax year you get an ISA allowance, which sets the limit on how much money you can pay into ISAs. This tax year, you can pay in up to £20,000. The £20,000 can be spread across all your ISAs.
There are four types of ISA: cash ISAs, stocks and shares ISAs, Lifetime ISAs and innovative finance ISAs. You can add money into one of each type of ISA every tax year. For example, this tax year you could add some of your ISA allowance to a cash ISA and a stocks and shares ISA, but you cannot pay into two different cash ISAs unless you do an ISA transfer.
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