Compare our Best ISAs
Find the best ISA for your 2024/25 ISA allowance.
You can put up to £20,000 into an ISA for the current tax year (which ends on 5th April). For Cash ISAs you can choose to either an instant access ISA or a fixed rate ISA from 1 to 5 years.
Investing for a child? You can invest up to £9,000 in a Junior ISA (JISA) tax free with the cash locked away until the child turns 18.
If you are happy to invest in the stock market and ideally you have a 5 year plus timescale on how long you want to invest for, then see our stocks & shares ISA selections below.
Our Top Picks – Stocks & Shares ISAs |
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| 6 low cost funds selected by experts Invest from £1 Features: |
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Trusted by over 400,000 people. Fully FSCS protected. |
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| Choice of five Ready-made Investments Invest from £50 Features: |
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| Voted ‘Best for Customer Service’ and ‘Consumer Rated Value for Money’ at the Boring Money Awards 2024. Capital at Risk. T&Cs and ISA rules apply. | ||
| Choice of 700 low cost ETF Funds Invest from £100 Features: SPECIAL OFFER: Get a Welcome Bonus of up to £50 when you invest at least £100 with InvestEngine (Capital at risk, Ts&Cs apply). |
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Build your own low cost portfolio using managers such as Vanguard, iShares & Invesco. FSCS protected. |
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| 12,500 investments, or a choice of five managed funds Invest from £1 Features: |
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Serving clients for over 200 years. FSCS protected. Advice is restricted to Charles Stanley Direct’s in-house funds and is subject to a minimum investment £20,000. Capital at risk |
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| Invest in 6,100+ US, UK & European stocks & ETFs commission-free
Features: SPECIAL OFFER: |
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Trusted by over 1.5 million people. FSCS protected. Capital at risk. ISA eligibility and tax rules apply. Other charges may apply |
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| 5 investment styles including Smart Alpha Invest from £500 Portfolio Options: |
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Easy, online set up: transfer in existing ISA’s or invest new money. Client assets are held seprately with Barclays & State Street. Consumers may be covered by FSCS. Capital at risk. Approved by Nutmeg 09/08/2024 |
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| Choose from a range of 36 funds and ETFs and 20 US stocks to invest with Moneybox Invest from £1 Features: There are additional fees charged directly by the fund provider. Please check the key investor information document (KIID) for a particular fund for more information |
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Award-winning app. Fully FSCS protected. |
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| Choose from over 2,000 funds From £25 per month Features: |
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Mobile app – manage your portfolio on the move. FSCS protected. |
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| Choose from 10 managed portfolios From £1 lump sum Features: |
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Ethical Plan options. Part of the Aviva group. FSCS protected. |
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Share Dealing ISAs
Using the Investor Essentials Plan
Meteor FTSE Quarterly 85 Income Kick Out Plan
Mariana FTSE 100 Defensive Income Kick Out Plan
per year
Meteor FTSE Quarterly 75 Income Kick Out Plan
per year
Walker Crips UK Fixed Income Plan
fixed income per year
Arcus 6Y UK Monthly Fixed Income Plan
fixed income per year
Walker Crips UK Annual Kick Out Plan
per annum
Meteor FTSE Annual 100 Kick Out Plan
per annum
Meteor FTSE Daily 100 Kick Out Plan
per annum
Arcus 5Y UK Defensive Step Down Kick Out Plan
per annum
MB UK 5Y Annual Step Down to 85 Kick Out Plan Y2 65
per annum
Mariana FTSE 100 Defensive Kick Out Plan
per annum
Meteor FTSE Annual Step Down to 80 Kick Out Plan
per annum
Cash ISAs
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
Gross/AER
AER
Gross/AER
Gross/AER
Gross/AER
MB UK 4Y 100 Growth Deposit Plan
at end of term
MB UK 6Y Annual Step Down to 80 Kick Out Deposit Plan Y3
per annum
Goldman Sachs FTSE 100 Deposit Kick Out Plan
MB UK 4Y Annual Fixed Interest Deposit Plan
fixed income per year
MB UK 4Y Monthly Fixed Interest Deposit Plan
fixed income per year, paid monthly
MB UK 4Y 90 Growth Deposit Plan
at end of term
Top 10 tips for using your ISA 2024/25 allowance
- Remember that you can’t carry your tax-free allowance over from one financial year to the next – so if you’ve got enough cash to hit your limit, stash it in an ISA. The ISA allowance for the financial year 2024/25, is £20,000.
- Always keep an eye on your bonus rate, and be prepared to switch when it ends.
- You can only have one type of cash ISA in each financial year, so research your options carefully. Whether you choose a fixed-rate or instant access cash ISA, give some thought to your savings goals beforehand to help you determine what’s right for you.
- If you’re completely new to saving, or just need a tax-efficient place to build up an emergency fund, a cash ISA can be a good option. It’s a good way to try your hand at saving without committing yourself to anything long-term.
- Make the most of your ISA allowance each tax year and keep up to date with changes in annual limits. Remember that you can’t carry over any unused ISA allowance – so use it before it’s too late.
- Having goals can be useful for motivation. Saving for a holiday or other project can be a great way of maintaining focus. An instant access or fixed-rate cash ISA can offer a simple way to save for something specific like a holiday, home improvements, or a new car.
- If you know you’re likely to forget to make regular deposits in your ISA, set up a direct debit for whatever amount you can comfortably afford at the beginning of each month and you’ll never miss a payment again.
- You should be prepared to invest for the medium to long term with a stocks and shares ISA – for example, for five years or more. If you think you might require access to your cash in the next couple of years, a stocks and shares ISA may not be the right choice for you.
- Always remember that share prices can be very variable – especially in the current financial climate – and so if you were to withdraw your investment in the next twelve to eighteen months, you could end up with less money than you started with.
- With ISAs of all types, the deals on offer are in constant fluctuation, so shop around to ensure you’re always maximising the interest on your savings.
What is an ISA?
Launched in the UK in 1999 to encourage more people to save and invest, ISAs allow you to earn interest on your savings without paying tax on it or invest in stocks and shares without being liable for tax on any returns you make.
ISAs were introduced to replace Personal Equity Plans (PEPs). Initially savers had the option of a mini ISA, which allowed investments in either cash or stocks and shares, or a maxi ISA, which combined both elements in one account.
Cash ISAs and stocks and shares ISAs replaced the mini and maxi ISAs in 2008. The current 2023/24 tax year allowance stands at £20,000 which this can be divided between cash and investments in any proportion you wish.
Why you should use your ISA allowance in 2024/25?
The primary benefit of ISAs is the tax advantage that allows individuals to profit from savings or shares without paying income or capital gains tax on that return.
The secondary benefit is that you are saving some of your income. Whether you’ve a particular savings goal in mind or you just want to ensure you’ve got an emergency fund tucked away, an ISA can provide a simple way to help achieve this.
For UK residents, ISAs should be your first savings port of call in order to avoid paying tax unnecessarily on your savings or investments.
Different ISAs are designed to meet different needs, so before you choose an ISA provider you should ask yourself a few questions.
What types of ISA are available?
1. Instant access cash ISAs
Instant access cash ISAs are very popular as they’re relatively simple and convenient, but consumers should shop around for the best rate as some are more competitive than others. These accounts are useful for being able to access funds in a hurry, but with the return on interest low on instant access accounts, there is an incentive to keep saving and contributing to a more profitable account. Use our services to compare instant access cash ISAs
2. Easy access cash ISAs (also known as notice accounts)
Notice accounts provide a better rate if interest than instant access accounts, but require more notice to withdraw cash –this can range from a few weeks to several months, so check carefully beforehand. Use our services to compare easy access cash ISAs and notice accounts
3. Fixed-rate cash ISAs
Fixed-rate cash ISAs have traditionally been the savings vehicle of choice for those looking to lock cash away for a set period of time in the hope of gaining a better interest rate in return. However, the current combination of a low base rate plus the funding for lending scheme leaving many banks less reliant on income for savers means that these accounts are often no longer a guarantee of high rates. Compare fixed rate cash ISAs and fixed rate cash ISA alternatives using our services.
4. Deposit plan cash ISAs (also known as structured deposits)
As an alternative to traditional cash ISAs, you may want to consider structured deposit plans. This type of account offers the potential for higher returns than those available via fixed-rate cash ISAs, by offering returns linked to an index (usually the FTSE 100). Your returns are based on market performance, but your capital is protected by the FSCS up to a value of £85,000. Use our services to compare structured deposit ISAs.
5. Investment ISAs (also known as stocks and shares ISAs)
A stocks and shares ISA allows you to invest money up to a certain amount without paying tax. You can choose from options including income ISAs, growth ISAs, and share dealing ISAs. Use our services to compare investment ISAs.
How do I choose an ISA?
- The minimum balance requirements
- Any limits on transfers into the account – some accounts set limits on this
- Notice periods and penalty fees, if these apply
It’s also important to ask yourself a few questions before you start, such as:
How much of my annual ISA allowance do I want to use?
Each UK resident over 16 has an annual ISA allowance, which is set at the start of each tax year by HMRC. The tax year runs from 6th April each year, and the current ISA allowance from 6th April 2023 is £20,000.
How much tax will I save with an ISA?
Cash ISAs:
The good news is that whatever your tax bracket, you’ll pay 0% tax on any savings held in a cash ISA. People in all tax bands can benefit from this, as you can see below:
- Savings rate taxpayers usually pay 10% tax on savings interest – with a cash ISA you pay 0%
- Basic rate taxpayers usually pay 20% tax on savings interest – with a cash ISA you pay 0%
- Higher rate taxpayers usually pay 40% tax on savings interest – with a cash ISA you pay 0%
- Additional higher rate taxpayers usually pay 50% tax on savings interest – with a cash ISA you pay 0%
Investment ISAs:
A stocks and shares ISA allows you invest your tax-free allowance while only paying 10% tax on any investment income you make. This can add up to a substantial saving when you consider that, on dividends paid on a non-ISA investment, an additional rate taxpayer would have to part with 42.5% in tax.
The above information gives you a general idea of what you could save – remember that it depends on your individual circumstances and may be subject to change in the future.
What if I need to get to my money out of the ISA quickly?
If this is important to you – for example, if you’re saving for a short-term goal or to build up an emergency fund, rather than for long-term growth – then an instant access or easy access cash ISA may be a good option for you.
Fixed Income Plan Offer
Meteor FTSE Monthly Fixed Income Plan
5.34% fixed income pa
- Income paid regardless of the FTSE 100 Index performance
- Monthly payments (0.445%)
- Income paid every month for full four year term
- Available for new ISAs, ISA transfers and direct investments
- Invest from just £5,000
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High Growth Investment Plan
Walker Crips UK Annual Kick Out Plan
Potential Return – 8.25% pa
- Return paid if the FTSE 100 Index goes up by any amount on an annual observation date
- Potential early return every year from year 2 onwards
- 6 year maximum term
- ISA Option
- Invest from £10,000