HMRC says there are now 3,180 ISA millionaires and you could be one by 2043

24.10.2024 - 08:11 manchestereveningnews.co.uk

The number of people with ISAs worth more than £1 million has increased to more than 3,000, according to Freedom of Information data obtained by investment platform InvestEngine.

The latest figures from HM Revenue & Customs show there are now 3,180 ISA millionaires in the UK. The figures mean that a total of 253,000 people now have at least £250,000 in their ISAs, with a combined total value of at least £63 billion in their accounts.

According to the latest HMRC figures, the total market value of ISAs in the UK is £725 billion, with approximately 22 million people now having an ISA account.

The findings come during October, which marks the midpoint of the tax year and the reset of ISA limits in April next year. InvestEngine is urging those who have savings set aside in low or no-interest accounts to consider putting them into ISAs now, where they can begin accruing returns that would be missed if left until the end of the financial year, while also shielding it from potential tax.

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