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ISA allowance 2021/2022: Is there a minimum contribution you must make as tax year ends?

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Lifetime ISAs work differently and only allow you to save up to £4,000 a year in them.

This can come out of your £20,000 total ISA limit.

You are entitled to split the remaining £16,000 of your full ISA limit into another ISA account or several other ISAs.

Parents are also entitled to an additional £9,000 in Junior ISA accounts on top of this £20,000 ISA limit.

Junior ISAs work in the same way as adult stocks and shares ISAs and must be opened by parents on behalf of children.



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