2023 Isa Limit
If you are 55 years of age or over, you are allowed to contribute extra money to your hsa. For example, you could put £5,000 in a cash isa, £4,000 in a lifetime isa and the remaining £11,000 in a stocks and shares isa. That covers all types of isas, including cash isas, lifetime isas and stocks and shares isas. The 2023 limits have increased significantly over the 2022 limits:
Before the increase to £20,000, the isa allowance was nearly 25% lower at. For example, you could put £5,000 in a cash isa, £4,000 in a lifetime isa and the remaining £11,000 in a stocks and shares isa. The below table shows the increased contribution limits for 2023: Junior isas are an exception, and the limit for these this tax year is £9,000.