How much can I deposit in a cash ISA and a stocks and shares ISA each year?

You can invest a total amount of £20,000 across every ISA type during the 2022/23 tax year – which runs from 6 April 2022 to 5 April 2023. Please note, you can only contribute to one of each type of cash ISA, stocks & shares ISA, innovative finance ISA and lifetime ISA in each tax year.* IG only offer stocks and shares ISAs.

However, if you subscribe to a stocks and shares ISA with another broker in the current tax year and then transfer the ISA to IG, the whole ISA and current-year subscriptions are deemed to originate from IG. This means you can continue to subscribe up to the current annual limit.

*Tax laws are subject to change and depend on individual circumstances. Tax laws may differ in jurisdictions other than the UK.

What happens to any realised profits if they exceed the tax allowance?

Any gains made in an ISA are free from tax, regardless of whether or not the gain takes you above your annual allowance.