Each tax year, HMRC reviews the rules around ISAs (Individual Savings Accounts). While the allowance hasn’t changed in the latest ISA changes, there have been a few important updates- especially around flexibility and how you can use your ISA across different providers.
Here’s what you need to know.
Your allowance remains the same
For the 2025/26 tax year, the total ISA allowance is still £20,000. You can split this across different types of ISAs if you wish- for example:
- Stocks & Shares ISA
- Cash ISA
- Lifetime ISA (up to £4,000 max)
- Innovative Finance ISA
See ISA allowance: How much can I invest? for more details.
You can now pay into multiple Stocks & Shares ISAs
Previously, you could only subscribe to one Stocks & Shares ISA each tax year.
From April 2024, you can now subscribe to more than one - across multiple providers, which is great if you’re looking to try different ways of investing your ISA.
Example: You can invest £10,000 with InvestEngine and £10,000 with another provider — so long as you don’t exceed the £20,000 total.
Important: It’s your responsibility to track your total subscriptions and stay within the limit. If you over-contribute, you’ll need to contact HMRC to resolve the issue.
More information is available in the HMRC ISA guide.
Better flexibility for some transfers
ISA providers are now encouraged to offer more flexibility in how and when you can transfer between providers, including partial transfers of current-year subscriptions.
At InvestEngine, you can transfer:
Cash transfers (in and out)
In-specie transfers (in, if supported by your provider)
An in-specie transfer in investments means moving your shares or funds to another account without selling them first.
Note: We can only accept in-specie transfers of ETFs. We cannot transfer in individual company shares, funds, or other investments in-specie.
If your ISA holds other investments and you wish to transfer to InvestEngine, those holdings will need to be sold and transferred as cash.
You can read more about ISA transfers here
What’s changed at InvestEngine?
We now support customers who hold multiple Stocks & Shares ISA providers, in line with HMRC’s 2024/25 update
- Your ISA dashboard tracks your remaining allowance and flexible ISA replacement amount
Not sure what to do next?
We can’t give personal tax advice, but our Help Centre has lots of guidance to help you make informed decisions: