Which investments can I hold in a stocks and shares ISA – and which ones are banned?

HMRC has a list stating which investments are allowed in ISAs, but sometimes investors, and even ISA providers, get confused by the rules. Here’s what you need to know when picking your investments.

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Almost four million investors pay into stocks and shares ISAs each year, in a bid to shield their money from tax and boost their wealth.

Investors are allowed to contribute up to £20,000 into these tax-efficient accounts each tax year, and hold a range of assets from funds and investment trusts to bonds and shares.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.