Stocks & Shares ISA - Sell and Buy Question

neilem

Hello, I was wondering if you make a profit in a stock (through S&S ISA) am I able to sell and buy another stock or buy back the same stock for the same monetary value I sold? Or do I need to withdraw?


For example (all under S&S ISA):
Buy £5k in Easyjet.
Sell £15k from Easyjet.
Rebuy £15k worth of Easyjet stock. 

I’m asking because the S&S ISA has a limit. That limit appears to not apply when selling?

Thanks,
Neil.

eskbanker

Not sure I fully understand what you're driving at but £20K is an annual contribution limit for what can flow from outside ISAs to inside them, and doesn't affect what can be done within the ISA umbrella itself, so if you had, say, £100K worth of investments within a S&S ISA, you could sell them and rebuy some or all of them as often as you like without affecting the contribution limit.

Generally you'd only withdraw money from an ISA as a last resort if you needed it for other purposes and didn't plan to use it within an ISA again....

It also occurred to me that you may be getting confused with CGT rules on bed & breakfasting, but these don't apply within the ISA environment if that's what you were referring to.

neilem

Thanks @eskbanker - I didn’t realise the limit was a contribution from outside that umbrella. Good answer.