Stocks and Shares ISA Tax

DBPaul

Hi

With an Investment ISA, is there ever any tax to pay when selling the shares in the future (e.g. capital gains, or income tax, or anything else)?

Is there any upper limit on the value of the ISA?

Thanks

System

No and No!

eskbanker

The above post answers concisely and accurately but a couple of additional points:

A recent poster on here mistakenly thought that ISA contents would be exempt from inheritance tax on the death of the ISA holder but they're not.

And while there is no upper limit on value, there is of course an upper limit on contributions (currently £20K per tax year) - many years of contributions and growth will result in some pretty substantial pots, hence the reported existence of 'ISA millionaires'.

DBPaul

Thanks for the answers!