The number of individuals with more than £1m in their ISA accounts climbed more than 50% in the 2023/24 tax year, an FOI request shows.

The number of ISA millionaires is set to have trebled over the last three years, according to analysis of recent HMRC data.

There are now 5,070 confirmed ISA millionaires and an additional 2,770 investors sitting on pots of between £900,000-£999,999, according to HMRC.

The number of ISA millionaires has soared to a record high of 5,070, the latest annual figures show.