Making the most of ISAs

An introduction to Isas

Individual Savings Accounts, universally known as ISAs, began as relatively simple savings plans 26 years ago, but since then the rules surrounding them have become ever more complex and, following the Autumn 2025 Budget, will yet become more so.

Rachel Reeves already announced in the Autumn Budget 2024 that she would freeze ISA subscription limits at their current levels through to 2029/30 (now extended to 2030/31). Five months later, in her Spring Statement, she suggested she was looking at options to “get the balance right between cash and equities” in ISAs. Her conclusions emerged in the Autumn Budget 2025 and will mean new restrictions on cash ISAs for the under-65s and the replacement of Lifetime ISAs (LISAs) with a new Help to Buy ISA in 2026.

The government’s website says there are currently only four categories of ISA – cash ISAs, stocks and shares ISAs, innovative finance ISAs, and (short-lived) LISAs – but variants exist for specific investment needs.

This guide will explain how the main variants work, in order of their original launch date.

The Guide covers the following topics:

  • The types of ISA available 
    The ISA family includes a range of products suited for a variety of investment plans
  • The investment options 
    How you can use ISAs for cash savings, stock and shares and more
  • Investment limits
    The amount you can contribute each tax year depends on the type of ISA
  • How ISA investments are taxed
    How the tax privileges work in practice, for each type of ISA

Click here to download your copy of ‘Making the most of ISAs’.

Our full range of Key Guides can be found at:
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This publication is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority (FCA) does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. This publication represents our understanding of the law, HM Revenue & Customs practice as 5 January 2026 and the Finance (No 2) Bill 2025.