ISA allowance 2024/25

Every adult in the UK gets their own ISA allowance each tax year. Investing into an ISA can be tax efficient. However, there is a limit to how much you can contribute to an ISA – this limit is known as your annual allowance - and it varies depending on the type of ISA you have.

Having an ISA is a tax-efficient way to invest your money, as you won’t be charged tax on the interest or returns you may earn. But there is a limit to the amount you can put into an ISA in a tax year. In the 2024/25 tax year, the maximum you can put into ISAs is £20,000 and for Junior ISAs it’s £9,000.

Where you put your ISA allowance will depend on your goals. If you invest with us, you have the following ISAs available to you at John Lewis Investments:

Stocks and shares ISA: any money put into a stocks and shares ISA will be invested in global equity and bond markets.

Junior ISA: a Junior ISA can be opened for a child and only they can access the money when they turn 18. Again, these contributions will be invested in global equity and bond markets.

For both our stocks and shares ISA and Junior ISA you can choose the type of investment style: Fully Managed or Socially Responsible Investments.

Every tax year, every adult gets a new ISA allowance. The tax year runs from 6 April (current year) to 5 April (next year).

ISA allowance for 2024/25: £20,000 

Junior ISA allowance for 2024/25: £9,000 

Please remember you won’t be able to carry over any of your ISA allowances that you don’t use within a tax year.

If you are planning to set up a stocks and shares ISA, you will have the choice whether to transfer a previous ISA from another provider. If you transfer the money out yourself, you will lose the tax benefits.

When you sign up for a John Lewis Investment account, we can take care of the transfer for you – including contacting your current provider.

For more information on ISA transfers, read our guide.

As with all investing, your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. A stocks and shares ISA may not be right for everyone and tax rules may change in the future. If you are unsure if an ISA is the right choice for you, please seek financial advice.

To open a John Lewis Investments JISA, your child must be under the age of 16 and funds cannot be withdrawn until your child turns 18. Tax treatment depends on your individual circumstances and may be subject to change in the future. If you are unsure if a Junior ISA is the right choice for you and your child, please seek financial advice.