Stocks and Shares ISA UK: The Complete 2026/27 Guide
£20,000 a year, tax-free for life, on every gain and every dividend. The Stocks and Shares ISA is the most generous wrapper a UK investor will ever access. Most don't fill it.
What you can hold inside a Stocks and Shares ISA, 2026/27
| Allowed | Not allowed |
|---|---|
| UK and overseas shares | Direct property |
| ETFs, OEICs, unit trusts | Cryptocurrency wallets |
| Investment trusts | Unlisted private shares |
| Corporate and government bonds | Physical commodities |
| Cash (while deciding) | P2P loans (different ISA type) |
£20,000 annual allowance. Zero capital gains, dividend, or interest tax on anything inside.
Key takeaways
You can shelter up to £20,000 a year inside a Stocks and Shares ISA in 2026/27, with zero tax on gains, dividends or interest.
Since April 2024 you can pay into more than one Stocks and Shares ISA in the same tax year, but the £20k cap still applies across all of them.
Pick a low-cost platform, hold globally diversified funds, and never withdraw money to move it. Always use the formal ISA transfer process.
A Stocks and Shares ISA is the single best wrapper most UK investors will ever own. Use it before you do anything fancy.