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Confused re income tax & CGT on stocks & shares ISA

Middle_Sister
Posts: 566 Forumite


Last year I bed & breakfasted some shares I already had which had gone down in value and put them in a stocks & shares ISA. Now they have gone up 70%. I dont need the money and thought I would B&B some more shares and put the max £10.2K into the same stocks & shares ISA.
Is this wise or would I be better putting £5.1K in stocks & shares and the other half in a cash ISA (I have set up a Santander 3.5% cash ISA with 0 balance just in case)?
I thought any profits at all that I made in my stocks & shares ISA were free of tax but now I'm confused after someone mentioned CGT?
I don't want to build up a pot of say £50K and then get clobbered for CGT?
Help.
Is this wise or would I be better putting £5.1K in stocks & shares and the other half in a cash ISA (I have set up a Santander 3.5% cash ISA with 0 balance just in case)?
I thought any profits at all that I made in my stocks & shares ISA were free of tax but now I'm confused after someone mentioned CGT?
I don't want to build up a pot of say £50K and then get clobbered for CGT?
Help.
0
Comments
-
There is no Capital Gains Tax on any gains in ISAs. (And you can't use losses either to ofset gains outside ISAs.)0
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