Very basic Stock ISA Question

a1reno

Hi,

I'm just getting into buying stocks and have an extremely basic ISA question. As I understand I can invest approximately £10k in shares and put it into an ISA wrapper, and those 10k worth of shares will be free of capital gains tax? Therefore once I have filled up the 10k of shares into that ISA it doesn't matter where I invest (keep my funds i.e. broking accounts)after the 10k as that will be taxed regardless?

The main reason I ask is that I opened a stock and shares ISA with one bank, so I was thinking of filling up the 10k's worth of shares there, then moving the rest of my trades to another broker account as it has more features.

Thanks in advance!

dunstonh

As I understand I can invest approximately £10k in shares and put it into an ISA wrapper

£11520 this tax year.

and those 10k worth of shares will be free of capital gains tax?

Whatever is in the ISA, irrespective of the amount, it tax free.

Therefore once I have filled up the 10k of shares into that ISA it doesn't matter where I invest (keep my funds i.e. broking accounts)after the 10k as that will be taxed regardless?

Every april you get a new ISA allowance. So, depending on your contribution frequency and amounts you may be able to keep using the ISA.

The main reason I ask is that I opened a stock and shares ISA with one bank, so I was thinking of filling up the 10k's worth of shares there, then moving the rest of my trades to another broker account as it has more features.

Bank investment products tend to be very poor value for money and low in quality. There are rare exceptions but general rule of thumb is to avoid bank products unless justification exists.