UK Calculator

UK ISA Calculator 2024/25

Calculate tax-free savings growth across Cash ISA, Stocks & Shares ISA, and Lifetime ISA

Your ISA Projection
Total Value at Maturity
£0
Total Contributions: £0
Total Interest/Growth: £0
Tax Saved (vs Regular Savings): £0
Equivalent Non-ISA Interest Rate Needed: 0%
Annual ISA Allowance Used: £0 / £20,000
ℹ️ ISA gains are completely tax-free

ISA Types & Allowances 2024/25

Annual ISA Allowance

ℹ️ £20,000 total annual allowance across all adult ISA types
£9,000 annual allowance for Junior ISAs

Types of ISA Available

ISA Type Best For Key Features Risk Level
Cash ISA Safe savings Fixed/variable interest, instant access options Low
Stocks & Shares ISA Long-term growth Invest in shares, funds, bonds Medium-High
Lifetime ISA First home or retirement 25% government bonus, max £4,000/year Low-Medium
Innovative Finance ISA P2P lending Higher returns, peer-to-peer loans High
Junior ISA Children's savings For under 18s, £9,000 limit Low-Medium

Lifetime ISA (LISA) Rules

⚠️ Lifetime ISA Key Points:
  • Age 18-39 to open, contribute until 50
  • 25% government bonus (max £1,000/year)
  • Max £4,000 annual contribution
  • Use for first home (£450,000 max) or age 60+ retirement
  • 25% penalty for other withdrawals

ISA Transfer Rules

Best ISA Rates (Updated Monthly)

ISA Type Top Rate Provider Example Access
Easy Access Cash ISA 4.5% - 5.2% Various Instant
1 Year Fixed Cash ISA 5.0% - 5.5% Various Fixed 1 year
2 Year Fixed Cash ISA 4.8% - 5.3% Various Fixed 2 years
Stocks & Shares ISA 7% - 10% avg* Investment platforms Variable
*Historical average returns, not guaranteed

Tax Benefits of ISAs

ℹ️ All ISA gains are free from:
  • Income tax on interest (Cash ISA)
  • Dividend tax (Stocks & Shares ISA)
  • Capital gains tax (Stocks & Shares ISA)
  • No need to declare on tax returns

Frequently Asked Questions

How many ISAs can I open per year?

You can open one of each type of ISA per tax year, but your total contributions cannot exceed £20,000 (or £4,000 for Lifetime ISA which counts toward the £20,000).

Can I withdraw from my ISA?

Yes, from flexible ISAs you can withdraw and replace money in the same tax year. Fixed-term ISAs have penalties for early withdrawal. Lifetime ISAs have a 25% penalty except for first home or age 60+.

What happens to my ISA if I die?

Your spouse/civil partner can inherit your ISA allowance as an 'Additional Permitted Subscription' (APS), keeping the tax-free status.

Is my money protected in an ISA?

Cash ISAs are protected up to £85,000 per person per institution by the FSCS. Stocks & Shares ISAs are protected up to £85,000 for cash and £50,000 for investments.