The average of the top 25 stocks and shares ISAs is worth 17 times the average of the biggest cash ISA accounts, according to figures from HM Revenue and Customs (HMRC)
The average value of the top 25 stocks and shares ISA accounts is worth approximately 17 times more than the largest cash ISA accounts, according to figures from HM Revenue and Customs (HMRC). A freedom of information (FOI) request submitted to the tax authority by InvestEngine revealed the average value of the top 25 highest value stocks and shares ISAs stands at £10,980,000.
By comparison, the average value of the top 25 highest value cash ISAs is £640,000, according to the data for the tax year 2022/23. The figures, which were based on account numbers rather than individual account holders, were rounded to the nearest £10,000.
The HMRC document also indicated there were approximately 3,080 ISA accounts with a market value exceeding £1 million in 2022/23. It recorded 30 cash ISA accounts containing £500,000 or more and 38,680 stocks and shares accounts holding at least £500,000 during the tax year 2022/23. These figures were rounded to the nearest 10.
While roughly 1,530 cash ISAs contained £250,000 or more, the corresponding total for stocks and shares ISAs was £244,570 in 2022/23. Speculation regarding potential changes to the cash ISA limit has intensified ahead of the Budget.
Andrew Prosser, head of investments at InvestEngine, said the data obtained through the FOI “reveals a clear and growing divide between saving and investing”.
He added: “While cash ISAs will always have an important role, especially for shorter-term financial needs, the figures set out clearly the value of long-term investing, with the highest-value stocks and shares ISAs now worth 17 times that of the top cash ISAs on average.
“Even beyond the top tier, the pattern is the same. Only 30 cash ISAs across the country hold over £500,000, compared to almost 39,000 stocks and shares ISAs. The difference reflects how consistent investing has proven to be the most effective route to building meaningful, long-term wealth. It’s these kinds of numbers that truly help demonstrate the potential that investing holds.”
