ISA statistics: How many people have an ISA in the UK?

How much money do Brits place in stocks and shares and cash ISAs?

An ISA (individual savings account) is a great way to save your money in a tax-free account. A stocks and shares ISA allows you to invest, usually based on the level of risk you are comfortable with. If you want to know more, we’ve compiled a list of the best trading platforms to help you decide which is best for you.

Below, we’ve looked into the latest ISA statistics to see how the UK uses these tax-free accounts.

ISA statistics UK: Highlights

  • 6% of UK adults have a stocks and shares ISA according to a 2024 survey.
  • The average stocks and shares ISA balance subscribed in 2022/2023 was £7,355.
  • A quarter of Brits (26%) plan to open at least one ISA in the 2024/2025 tax year.
  • 3.8 million stocks and shares ISAs and 7.9 million cash ISAs were subscribed to in the 2022/2023 financial year.
  • The average return on a stocks and shares ISA over the past 10 years has been 9.64%.
  • In 2022/2023, a third (31%) of ISA subscriptions were to stocks and shares ISAs while 63% were to cash ISAs.
  • The annual ISA allowance stands at £20,000 for the 2024/2025 tax year.

How many people have a stocks and shares ISA?

3.8 million people subscribed to a stocks and shares ISA in the 2022/2023 tax year, down from around 3.9 million people in 2021/2022. Just over 7% of UK adults paid some money into a stocks and shares ISA during this period and a third (31%) of all ISA subscriptions made were to stocks and shares ISAs.

The number of subscriptions has grown by over a million since the 2019/2020 financial year when just 2.7 million stocks and shares ISAs were subscribed to.

How many people have a cash ISA?

7.9 million people subscribed to a cash ISA in 2022/2023, up from 7.1 million in the previous year but down from a high of 9.7 million in 2019/2020. 63% of ISA subscriptions were to cash ISAs.

In total, almost 12.5 million ISAs were subscribed to in the 2022/2023 tax year.

Year Number of stocks and shares ISAs Number of cash ISAs
2022/2023 3.8 million 7.9 million
2021/2022 3.9 million 7.1 million
2020/2021 3.6 million 8 million
2019/2020 2.7 million 9.7 million
2018/2019 2.4 million 8.5 million
2017/2018 2.9 million 7 million
2016/2017 2.6 million 8.5 million

How many Brits are planning to open an ISA?

Our survey found that a quarter of Brits (26%) plan to open at least one ISA in the 2024/2025 tax year. A fifth of those (20%) already have an ISA and intend to open another, while a further 5% do not currently have an ISA but intend to open one.

What is the average return on a stocks and shares ISA?

The average return on a stocks and shares ISA over the past 10 years has been 9.64%. However, the performance of this type of ISA can vary significantly, seeing losses as well as returns.

The average stocks and shares ISA experienced a loss of 3.27% between February 2022 and February 2023. This is down from an average return of 6.92% between 2021 and 2022 and an average return of 13.55% between 2020 and 2021, when the stock market saw a boom after the pandemic.

Year Average stocks and shares ISA returns Average cash ISA returns
2022/2023 -3.27% 1.71%
2021/2022 6.92% 0.51%
2020/2021 13.55% 0.63%
2019/2020 -13.33% 1.18%

How much are Brits paying into ISAs?

Overall, UK adults placed an impressive £28 billion in stocks and shares ISA during the 2022/2023 tax year, but this was around £6 billion less than in 2021/2022. Brits were putting more money into cash ISAs than the previous tax year, however, with a whopping £41.6 billion put into these accounts – over £10 billion more than the £30.9 billion subscribed in 2021/2022.

Interestingly, in 2021/2022, more money was subscribed to stocks and shares ISAs than cash ISAs. The amount subscribed to cash ISAs had been decreasing steadily, perhaps because interest rates were lower, making cash ISAs less attractive. However, once interest rates began increasing again in 2022 and 2023, Brits were once again placing more money in cash ISAs and less in investment ISAs.

Year Value of stocks and shares ISA subscriptions Value of cash ISA subscriptions
2022/2023 £28 billion £41.6 billion
2021/2022 £34.2 billion £30.9 billion
2020/2021 £33.9 billion £36.8 billion
2019/2020 £24.2 billion £48.7 billion
2018/2019 £22.6 billion £44 billion
2017/2018 £27.8 billion £36.7 billion
2016/2017 £22.3 billion £39.2 billion

What is the average stocks and shares ISA balance?

Over the last 5 years, the average amount subscribed to a stocks and shares ISA was £8,737. In the 2022/2023 financial year, this was slightly lower at £7,355.

What is the average cash ISA balance?

The average subscription per account for a cash ISA over the past 5 years is lower than a stocks and shares ISA, at just £4,881. However, the average subscription in 2022/2023 was £5,296, almost £1,000 more than the average subscription in the previous tax year.

The average subscription per account for a cash ISA has historically been lower than a stocks and shares ISA. This may be related to a number of reasons, such as the disposable income of those subscribing to a stocks and shares ISA, a larger number of people subscribing to cash ISAs, or worse than typical interest rates on cash ISAs during this period.

Year Average subscription (stocks and shares ISA) Average subscription (cash ISA)
2022/2023 £7,355 £5,296
2021/2022 £8,690 £4,330
2020/2021 £9,432 £4,568
2019/2020 £8,875 £5,024
2018/2019 £9,331 £5,187
2017/2018 £9,685 £5,228
2016/2017 £8,623 £4,622

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