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Annual savings statistics: September 2025

ended 18. September 2025

Around 15 million Adult ISA accounts were subscribed to in 2023 to 2024, up from 12.4 million in 2022 to 2023, according to new data published today by HMRC.

This upward trend is largely attributable to the significant increase in the number of Cash (2.1 million), Stocks and Shares (283,000) and Lifetime ISAs (209,000) subscribed to. Meanwhile, the number of Innovative Finance ISAs subscribed to decreased by 23.5%. The share of accounts subscribed to in cash has risen to 66.2%, a 3% growth from 2022 to 2023.

Around 1.37 million Junior ISA accounts were subscribed to in 2023 to 2024, the twelfth full financial year since the scheme was launched, up from 1.25 million in 2022 to 2023.

Meanwhile, around £103 billion was subscribed to Adult ISAs in 2023 to 2024, an increase of £31.4 billion compared to 2022 to 2023. This increase was driven by the rise in cash ISA subscriptions, which grew by 67% (£27.9 billion). 

tocks and shares ISA subscriptions followed with a 10.9% increase (£3.1 billion) and LISA subscriptions with a 25.3% increase (£474 million).This large increase in Cash ISA subscriptions can be explained by the Bank of England bank rate and the interest swap rates which were at the highest during the 2023/24 tax year.

Increased returns to savings are likely to have increased the attractiveness of ISAs as a means to reduce savings Income Tax liabilities. In 2023 to 2024, £1.8 billion was subscribed to Junior ISAs, around 36.4% of which was in cash. The average subscription in 2023 to 2024 increased to £1,347, an increase of 10.4% on the 2022 to 2023 figure.

Lastly, 87,250 account holders withdrew from their LISA in order to purchase a first time property in 2024 to 2025, an increase of around 30,500 on the previous tax year. The average withdrawal value for a house purchase was £15,782 for tax year 2024 to 2025. The average value of withdrawal for a house purchase has increased by approximately £857 since the 2023 to 2024 tax year.

Any thoughts on the report and data, ASAP please.

2 responses from the Newspage community

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Editor
Eamonn Prendergast
Chartered Financial Adviser at Palantir Financial Planning Ltd
“£872bn now sheltered in ISAs, but short-term tax relief risks long-term inflation pain. ISAs are booming, £103bn poured in last year, but this isn’t just a savings success story; it’s the result of frozen allowances and fiscal drag nudging people to shelter money where they can.
The danger is that savers are leaning too heavily on cash. Chasing short-term rates may feel safe, but over time inflation quietly chips away at those returns. The £31bn jump in subscriptions shows how quickly behaviour can swing when policy and tax rules tighten.
With so much wealth now parked in ISAs, it puts ISAs firmly on the Chancellor’s radar. That makes it more important than ever for savers to diversify and plan long term, not just follow the short-term shelter.”
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Editor
Scott Gallacher
Director at Rowley Turton
The surge in ISA subscriptions, especially Cash ISAs, is almost certainly down to rising interest and deposit rates. When rates were low, many savers mistakenly thought there was no need for an ISA, as most interest fell within their Personal Savings Allowance — especially since banks often paid lower rates on Cash ISAs than on ordinary savings.

Let’s be clear: that interest rate discrimination is effectively a bank rip-off, with banks pocketing part of the ISA benefit.

Now that higher rates are creating tax problems, savers are flooding back into ISAs. Skipping ISAs when rates were low is now coming back to bite, and it’s a reminder that in financial matters you need to think ahead. ISAs give a vital extra barrier between your money and the taxman — and that long-term tax protection can prove invaluable.