Question about share Isa's

LUCKYBOY74

Hi I presently hold shares in several companies .They are held in a share dealing account,and I was thinking of transferring the shares to a stocks and shares ISA.Im confused though,everywhere I look doesnt seem to have the info im looking for

I know that if I made a killing on some of the shares,i would have to pay capital gains tax if I made a profit of over approx £10,500.It states that you dont pay capital gains tax on any amount of profit made from a share that is held in shares isa.But im confused,does that only apply if you sell the shares,and either hold the money in the share isa,or use the money to buy more shares.If for example I made £20,000 profit after selling the shares,would I be liable for capital gians tax if I withdrew all of the profits from the account??

Hope that makes sense

Thanks

Luckyboy

ColdIron

You don't make, or crystallise, a capital gain until you sell the shares whether inside an ISA or not. If you sell the shares inside an ISA there is no CGT to pay even after you take the money out. Basically ISA and shares = no tax

LUCKYBOY74

Thanks Cold Iron,thats what i was looking for,thanks for the info