Can You Have a Joint ISA?

ISAs (Individual Savings Accounts) are a popular tax-free way to save and invest in the UK. However, many couples wonder whether they can open a joint ISA or share an ISA account. The short answer is no—ISAs are strictly individual accounts. However, there are ways for couples to coordinate ISA savings, use each other’s allowances, and benefit from ISA inheritance rules.

This guide explains ISA rules for married couples, how to use both allowances, and whether you can transfer or inherit an ISA.

What is an ISA?

An Individual Savings Account (ISA) allows tax-free savings and investments.

The annual ISA allowance for 2024/25 is £20,000 per person.

There are four main types of ISAs:

• Cash ISA – Tax-free savings account.

• Stocks & Shares ISA – Invests in stocks, bonds, and funds.

• Innovative Finance ISA – Peer-to-peer lending investments.

• Lifetime ISA (LISA) – Helps save for a first home or retirement (max £4,000 per year).

Each person can only have ISAs in their own name—joint ISAs do not exist.

Can You Have a Joint ISA or Share It in Joint Names?

• ISAs cannot be held jointly.

• Only one person can own and manage an ISA.

• Even married couples must have separate ISAs.

Unlike joint bank accounts, an ISA must be in one name only and cannot be shared.

Married Couple Rules: Can a Husband and Wife Have an ISA Each?

• Each person can open and contribute to their own ISA.

• Couples can maximise savings by using both ISA allowances (up to £40,000 per year combined).

• A spouse cannot access their partner’s ISA, but they can gift money for their partner to deposit into their ISA.

Have You Considered Using Your Partner’s ISA Allowance?

• If one partner has used their full ISA allowance, they can gift money to the other partner to use in their ISA.

• This is especially useful if one person earns more or has more savings.

Can I Give My Wife Money to Put in an ISA?

You can give your spouse money to put into their ISA.

• This does not count as a taxable gift.

• The funds must be deposited into the ISA by the account holder, as ISAs must remain individually owned.

Can I Give My ISA to My Husband?

• You cannot transfer an ISA to your spouse while alive.

• ISAs cannot be jointly owned or transferred.

• However, there are special inheritance rules if one partner dies (explained below).

Can My Wife Inherit My ISA?

• Spouses and civil partners can inherit an ISA tax-free.

• This is called the Additional Permitted Subscription (APS) allowance.

How ISA Inheritance Works

• If one partner dies, the surviving spouse receives a one-time ISA allowance equal to the value of the deceased’s ISA.

• This means the surviving partner can keep the ISA savings tax-free.

Setting Up the Closest Thing to a Joint ISA Account

Although ISAs cannot be shared, couples can:

• Each open their own ISA and contribute equally.

• Use both allowances to maximise tax-free savings.

• Nominate their spouse to inherit the ISA under APS rules.

This ensures both partners benefit from tax-free savings, even without a joint ISA.

Managing Joint Coordinated ISA Accounts: Tips and Best Practices

• Plan ISA contributions together – Ensure both partners use their full £20,000 allowance.

• Consider different ISA types – One partner might prefer a Cash ISA, while the other invests in a Stocks & Shares ISA.

• Use spousal ISA gifting – Transfer funds between partners to maximise total savings.

• Review ISAs regularly – If interest rates change, consider transferring ISAs for better returns.

Final Thoughts

• You cannot have a joint ISA—ISAs are always individually owned.

• Couples can each open and contribute to their own ISAs, doubling the tax-free savings potential.

• Spouses can inherit an ISA tax-free, keeping its benefits through the Additional Permitted Subscription (APS).

• Maximising both partners’ ISA allowances ensures better tax-efficient savings.

To check the best ISA options for couples, visit GOV.UK.