An ISA is an Individual Savings Account. An ISA is a ‘wrapper’ in which you can shelter savings and investments from tax. There are multiple types of ISA available; cash ISA, stocks and shares ISA, Help To Buy ISA, the Lifetime ISA and the Innovative Finance ISA (IFISA). You can put money into an ISA up to a set limit each tax year. This limit is known as your ‘ISA allowance’. Any returns or gains made from money placed in an ISA are not subject to income and capital gains tax. You don’t even need to declare ISAs on your tax return.