This means you can pay into a cash Isa, stocks and shares Isa, innovative finance Isa – and a Lifetime Isa if you are eligible for one. Children also have an Isa allowance, which is currently £9,000 a year. All UK residents aged 16 and over can have a cash Isa, but must be 18 before opening a stocks and shares Isa. Most Isa money is held in cash, through an Isa with a bank or building society. There will be people out there with enough financial clout to utilise this and next year's Isa allowance.

Source: Daily Mail March 13, 2022 03:50 UTC