Following on from my previous post about the number of people who hold an ISA and the size of the ISA market, this post looks into the number of individuals subscribing to ISAs in 2021/22, by income band and subscription amount.
Includes breakdowns for all ISAs, Cash ISAs only, Stocks & Shares ISAs only, and those with both.
Majority of subscriptions are in the £10,000-£19,999 and £20,000-£29,999 income bands.
Highest number of subscriptions is in the lowest subscription bands (£1-£2,499 and £2,500-£4,999)
Of the 1.77m people who subscribed the full £20,000 allowance across Cash and Stocks & Shares ISA, 76% had an income of between £10,000 and £100,000 (spread evenly across that wide income range).
The lowest earners, less than £10,000, accounted for 11% of full £20,000 subscribers.
The highest earners, £150,000 or more, accounted for 8% of full £20,000 subscriptions.
Of the full £20,000 allowance subscribers
56% invested into Stock & Shares ISA
37% invested into Cash ISA’s
7% invested into both
The following now looks at the number of individuals holding ISAs by income and market value as at end of 2021/22.
Unsurprisingly the average ISA market value increases with income, from £18,194 (lowest band) to £96,171 (highest band).
Cash ISA holders have lower average market values (£13,372) than Stocks & Shares ISA holders (£65,218).
Holders of both types have the highest average market value (£75,687).
Majority of ISA holders are in the lower market value bands (£1-£9,999).
Higher income bands are more likely to have higher market value ISAs.
References: All data and commentary are based on the official HMRC publication “Individual Savings Account Tables 2024” (Release date: 19 September 2024).
