ISA Allowances and Important Tax Thresholds

Check your annual tax allowances, including ISA savings limits with our handy infographic.

Every tax year anyone over 16 and a UK resident can save into an Individual Savings Account (ISA) which means that you can save without having to pay UK income tax or capital gains tax on the returns.

At the beginning of every new tax year your annual ISA allowance resets. In the 2018/19 tax year, the maximum you can save in ISAs is £20,000. You can’t carry over your allowance to next year, so if you don’t use it you lose it.

The infographic below illustrates the tax thresholds for the tax year ending 5 April 2019:


Metfriendly_TaxThreshold_v2

Make the most of your allowance this year. You can split your allowance any way you like across a Stocks and Shares ISA, Cash ISA, and a Lifetime ISA (maximum of £4,000) as long as you stay within the £20,000 overall limit. So for example you could put £4,000 into a Cash ISA, £4,000 into a Lifetime ISA and the remaining £12,000 in a Stocks and Shares ISA.

The allowance for Junior ISAs is less. The limit this tax year is £4,260. Metfriendly offers 2 types of Junior ISA - the Monthly Savings Junior ISA and the Lump Sum Junior ISA.

 

New Call-to-action



 Share

 facebook_circle-50.png twitter_circle-50.png mail.png

Topics: Savings & Investments

Back to guides and tips

Subscribe to Email Updates

​10 Steps to Better Budgeting at Christmas
Savings & Investments |11 min read
Passing out Parades
News |2 min read
Autumn Budget offers plenty of positives for police officers
Making the Most of your Money |5 min read
Our Honorary President
News |3 min read
9 Most Frequently-Asked Police Pay Questions
Making the Most of your Money |7 min read
Police Pay Award 2018/19 Announced
Making the Most of your Money |4 min read
ISA Allowances and Important Tax Thresholds
Savings & Investments |3 min read
How to help fund your child’s university education
Savings & Investments |11 min read
How much will it cost to buy my first home?
Homes & Property |8 min read
What is a Lifetime ISA?
Savings & Investments |10 min read
20 ​Police Pension Terms you should know​
Pensions & Retirement |8 min read
​Don't let surprise bills eat into your police pay
Making the Most of your Money |11 min read
16 Discounted Ways to Relax and Unwind
Making the Most of your Money |11 min read
The 9 Most Frequently-Asked Police Pay Questions
Making the Most of your Money |8 min read
Does Met Federation Reg 28 Offer you Enough Cover?
Insurance & Protection |7 min read
All you Need to Know About the Police Payslip
Making the Most of your Money |9 min read
Police Pay Award 2017/18 Announced
Making the Most of your Money |4 min read
Ten Reasons to Stay in the CARE Pension Scheme
Pensions & Retirement |5 min read
Five Tips for Planning your Retirement from the Police
Pensions & Retirement |6 min read
How to Improve your Credit Rating
Making the Most of your Money |13 min read
Meet our Members
Savings & Investments |6 min read