If I do not make an investment during the tax year, do I keep my ISA allowance?

If you make a cash subscription to your ISA account, the amount subscribed will use part of your ISA allowance, even if you do not use this subscription to make an investment.

If you do not use up your ISA allowance, it will not be carried over to the next year.

If you open an ISA, but do not subscribe any funds to it over the tax year, then it will be a considered a ‘break year’.  This means that, because no subscriptions were made during the tax year, you will have to make a new ISA declaration next time you seek to subscribe in the IF ISA.