The ISA Allowance: Every Annual Limit Since 1999
The annual ISA allowance is set by the Treasury and, unlike the employment-law limits that must track the retail prices index each year, it moves only when a Chancellor decides it should. The result is a history of long freezes punctuated by occasional jumps — and it means the real value of the UK's flagship tax shelter is quietly decided in Budget speeches. Here is the complete record.
The allowance year by year
| Tax year(s) | Overall limit | Cash limit | Note |
|---|---|---|---|
| 1999/00 – 2007/08 | £7,000 | £3,000 | Launch limit, set high "to encourage take-up" — then frozen for nine tax years |
| 2008/09 | £7,200 | £3,600 | First rise; the mini/maxi ISA structure abolished |
| 2009/10 | £7,200 | £3,600 | Savers aged 50+ allowed £10,200 from October 2009 |
| 2010/11 | £10,200 | £5,100 | Higher limit extended to everyone; annual indexation begins |
| 2011/12 | £10,680 | £5,340 | |
| 2012/13 | £11,280 | £5,640 | |
| 2013/14 | £11,520 | £5,760 | |
| 2014/15 | £15,000 | £15,000 | "New ISA" reform from 1 July 2014 (£11,880/£5,940 from April to June) — cash and shares limits merged |
| 2015/16 – 2016/17 | £15,240 | £15,240 | |
| 2017/18 – 2026/27 | £20,000 | £20,000 | Raised in April 2017 — and unchanged for ten tax years and counting |
| 2027/28 (announced) | £20,000 | £12,000 (under 65) | Autumn Budget 2025: cash capped at £12,000 for under-65s from 6 April 2027; over-65s keep £20,000. All limits committed to hold until 5 April 2030 |
Sources: HMRC's official ISA statistics limits table and the House of Commons Library briefing on ISA contribution limits (SN03332); the 2027 change is from Autumn Budget 2025 and the government's ISA reform factsheet; the freeze to 5 April 2030 was set at Autumn Budget 2024. Until July 2014 the cash limit was a component of the overall figure; since then the whole allowance can be held in any mix.
A history of freezes
Two freezes bracket the ISA's life. The launch allowance of £7,000 survived untouched from 1999 to 2008 — nine tax years. And the £20,000 limit introduced in April 2017 has now stood for ten tax years, with Autumn Budget 2024 committing to hold it (along with the Lifetime ISA's £4,000 and the Junior ISA's £9,000) until 5 April 2030. If the commitment runs its course, thirteen consecutive tax years will have passed without a rise.
Because the allowance has no statutory indexation, freezing it is a tax rise by stealth. For scale: in the period the £20,000 limit has stood still, April 2017 to April 2026, the statutory redundancy cap — which the law does force to track September RPI — rose from £489 to £751, an increase of 54%. The ISA allowance on the same escalator would be roughly £30,700 today. Every year the limit stands still while prices don't, the real shelter shrinks.
What came before: PEPs and TESSAs
ISAs didn't start the tax-free savings story — they consolidated it. Personal Equity Plans (1987) sheltered shares, with the general allowance reaching £6,000 from April 1990 and a further £3,000 single-company PEP from April 1991 — £9,000 a year in all. Tax-Exempt Special Savings Accounts (1991) sheltered cash: £9,000 per account over five years, with £3,000 allowed in the first year and £1,800 in each of the next four. Both closed to new money when ISAs arrived on 6 April 1999, and existing PEPs were folded into the ISA regime in 2008.
The other ISA limits
| Variant | Current limit | Status |
|---|---|---|
| Lifetime ISA (from April 2017) | £4,000 | Within the £20,000; unchanged since launch, held to 5 April 2030 |
| Junior ISA & Child Trust Fund | £9,000 | Since April 2020; held to 5 April 2030 |
| Help to Buy ISA | — | Closed to new savers on 30 November 2019 |
April 2027: the first cut to any ISA limit
Autumn Budget 2025 left the overall £20,000 intact but announced that from 6 April 2027 savers under 65 will only be able to subscribe £12,000 of it to cash ISAs, with the balance available for investment ISAs; savers 65 and over keep the full £20,000 cash option. It is the first time any ISA limit has been reduced rather than raised or frozen, and the government has published anti-circumvention rules alongside it. Whether the nudge from cash into shares changes saver behaviour — or just changes where the tax shelter sits — is the next chapter of this table. If you're weighing the cash-versus-invest question, our savings interest calculator shows what tax you'd pay outside an ISA, and the ISA vs pension comparison covers the retirement side.
Sources
The year-by-year limits: House of Commons Library, ISA contribution limits (SN03332) and HMRC's official ISA statistics limits tables. The freeze to 5 April 2030: Autumn Budget 2024 — Overview of tax legislation and rates. The April 2027 cash ISA change: GOV.UK — ISA reform 2027 factsheet and MoneySavingExpert — Autumn Budget 2025 cash ISA coverage. Redundancy-cap comparison figures: see our sourced statutory redundancy cap history. See our full methodology and rates.
This page is a factual reference, checked against the official publications listed above. The 2027 changes are announced policy and could be amended before taking effect. It is general information, not financial advice — verify against GOV.UK or a qualified adviser before making decisions.