stocks & shares ISA

hugh_jarse

Sorry if this is a bit of a simple question but if I invest £3600 in a (self select) shares ISA (already have same amount in a cash one) what happens if the stocks I pick go up and are worth more than the 3600?

Ta!

tradetime

hugh_jarse wrote: »

Sorry if this is a bit of a simple question but if I invest £3600 in a (self select) shares ISA (already have same amount in a cash one) what happens if the stocks I pick go up and are worth more than the 3600?

Ta!

You pat yourself on the back for being such a clever little stock picker and have a beer. I'm really not sure what you are trying to ask here.

surreysaver

Same as what happens if cash you put in an ISA earns interest. It just stays there.

purch

what happens if the stocks I pick go up and are worth more than the 3600?

That won't happen, :eek: so it's not really worth worrying about

ozzage

As surreysaver says, it's not problem. You just can't put more than £3600 in yourself. If what you've got in there climbs to be worth £5,000 it doesn't matter. You've only put in £3600 so that's OK, and the tax advantages will apply to the full £5000.

pennine

I thought the limit was £7200 for a S and S isa. £3600 applies to the cash Isa.

tradetime

pennine wrote: »

I thought the limit was £7200 for a S and S isa. £3600 applies to the cash Isa.

(already have same amount in a cash one)

£7,200 is the total amount per year of tax free allowance you can put away, either by putting all of it in a S&S ISA, or part S&S part Cash ISA, the OP already has the max for cash in Cash ISA

pennine

Sorry missed that.

hugh_jarse

thanks all! obviously am not expecting to pick stocks that will gain like some banks did yesterday but didnt really know what would happen re limits if someone did manage to increase by a large %age very quickly. So thanks for the replies, now just got to select some shares with potential to be high risers!
hugh