Everyone can take advantage of their annual tax-free Isa allowance. For the 2020-21 tax year, you can deposit up to £20,000 into Isa accounts. This is unchanged from 2019-20. This can all be put in a cash Isa, a stocks and shares Isa, or split between both cash and stocks and shares.

What this means is that you do not pay any tax on interest earned by the Isa!!