- One in three (28%) of AJ Bell DIY investors had the full £20,000 paid into their Stocks and Shares ISAs during the 2025/26 tax year*
- Almost one-in-10 (8%) paid in the full annual allowance of £60,000 into their AJ Bell SIPP**
- 61% of Lifetime ISAs had the full £4,000 paid in during the 2025/26 tax year
- Just over a fifth (21%) of parents filled their children’s Junior ISAs by the maximum £9,000 in the last tax year
- The start of the new tax year continues to be a popular time to max out accounts as investors look to make the most of tax efficient growth – a third (32.6%) of ISA subscriptions were for the maximum £20,000 at the start of the 2026/27 tax year
Sarah Coles, head of personal finance at AJ Bell, comments:
“Investors pushed their limits to the max in the last tax year, protecting as much of their money as possible from tax as the tax hikes continued. In the current tax year, early birds were particularly keen to fill their boots as soon as possible.
“The use of full allowances is remarkably consistent, at around 30% of Stocks and Shares ISAs, 20% of Junior ISAs, 8% of SIPPs and over 60% of Lifetime ISAs.
“If you have the money available, maxing out every year can make a profound difference to your portfolio. Someone who invested £1,666.67 monthly, used their full ISA allowance, and got a return after charges of 5%, could have built a nest egg of over £1 million in slightly under 26 years.
Early birds
“Every year there’s a big surge in the number of people maxing out in April, as those who have a lump sum available get started as early as possible, to take advantage of a full year of tax-efficiency.
“In April 2026 we saw the usual surge between the start of the new tax year and the end of April, and the number maxing out made up a larger percentage of the overall number than elsewhere in the year***. One in three Stocks and Shares ISAs subscribed to during the period were maxed out, along with 29% of Junior ISAs and 62% of Lifetime ISAs. These are similar percentages to previous years.
“There are significant benefits to starting as early as possible in the tax year. If you hold investments outside an ISA, dividends and capital gains are taxable. Given that the dividend allowance has fallen to £500 a year, it might not be long before you start paying tax. By moving investments into ISAs at the start of the year, they’re protected from both these taxes immediately.
“This is particularly key for anyone who has moved into a more expensive tax bracket thanks to frozen income tax thresholds. Dividend tax and capital gains tax are both paid at a higher rate when you’re a higher or additional rate taxpayer, so protecting yourself from both is increasingly valuable.
“If you don’t have a lump sum available, you may not be able to max out in the early days. However, it’s the best possible time to start a regular monthly investment. Setting these up allows you to drip feed money into the markets without having to find a lump sum to get started.”
*Based on investors on AJ Bell’s D2C platform. These figures won’t show those who max out their allowances while using more than one provider.
**The allowance for SIPP contributions varies depending on your income. These figures focus on those earning at least £60,000 and contributing at least £60,000 a year.
***Data from 6 April to 30 April 2026.
