HMRC data shows that the number of ISA millionaires – people who have built up a tax-free pot of £1m or more by investing in stocks and shares ISAs – has almost quintupled since 2017, and now stands at 2,7601.
The most recent statistics suggest around 11.8 million adults were subscribed to an ISA in the 2021/ 22 tax year, making £66.9bn deposits during the period. With ISAs first introduced in 1999, aimed at encouraging more people to save, the data certainly suggests the objective is being satisfied for an increasing number of people.
1HMRC, 2023
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