Figures reveal top stocks and shares Isa pots worth huge amount more than cash Isa accounts
The big difference between stocks and shares Isas and cash Isas
- New HMRC figures reveal a significant disparity in value between the wealthiest Stocks and Shares ISAs and Cash ISAs.
- For the 2022/23 tax year, the 25 highest-value Stocks and Shares ISAs averaged £10.98 million, 17 times more than the top 25 Cash ISAs, which averaged £640,000.
- Data obtained by InvestEngine through a Freedom of Information request shows approximately 3,080 ISA accounts held over £1 million.
- There were 38,680 Stocks and Shares ISAs with at least £500,000, compared to only 30 Cash ISAs reaching that threshold.
- Andrew Prosser, head of investments at InvestEngine, highlighted that consistent investing proves to be the most effective route to building long-term wealth.