Stocks and Shares ISA - do I have to declare income on a tax return, stating it's from an ISA?

jfgoodhew1

I know most of the rules around S&S ISAs.
I have a S&S ISA with Trading212, which is commission-free and zero fee to open the account, and I can choose to purchase and sell fractional shares in most companies, ETFs etc. available in the USA and UK markets. 
Within that account, I have bought shares in various companies. 
I have then sold some of those shares, generating income.

What I'm not clear about is this: do I have to declare that income from selling shares on my tax return to HMRC (even though it's tax free), or not?
A link to the government website explaining this would be really helpful - I've been looking for official guidance but found none so far.

jfgoodhew1

I guess it could be drawn from the "how to fill in a tax return" form, referring to gains from selling shares as "interest"?
"Don’t include any interest from Individual Savings Account (ISAs), Ulster Savings Certificates, Save As You Earn schemes or as part of an award by a UK court for damages." - Page 3
Sorry I'm not allowed to include a web address to it, but I'm sure most of you have seen it before...

eskbanker

Proceeds from selling shares aren't considered as income as such even outside an ISA - any gains made would be subject to capital gains tax, while dividend income would be subject to income tax, but both are academic when dealing within ISAs, so the short answer to your question is no, you don't need to put anything about these on your tax return....

Langtang

eskbanker said:

Proceeds from selling shares aren't considered as income as such even outside an ISA - any gains made would be subject to capital gains tax, while dividend income would be subject to income tax, but both are academic when dealing within ISAs, so the short answer to your question is no, you don't need to put anything about these on your tax return....

OK, having share in an ISA is better than having them out. I get that.

I have (will have) some US shares that are not in any wrapper. I plan to buy new ones for myself and my wife within  ISAs, selling an equivalent amount of unwrapped ones. MY FIL had to make out a tax return each year for these shares, paying tax here and in the US. He always said it was a pit*...

Would all of that still apply if the shares are held within an ISA? Would I be able to get the dividend out without paying tax on it?

What about CGT on the unwrapped ones that I sell, how is that worked out?

These may be simple answers, but ones I don't know.

Thanks in advance.

eskbanker

Langtang said:

I have (will have) some US shares that are not in any wrapper. I plan to buy new ones for myself and my wife within  ISAs, selling an equivalent amount of unwrapped ones. MY FIL had to make out a tax return each year for these shares, paying tax here and in the US. He always said it was a pit*...

Would all of that still apply if the shares are held within an ISA? Would I be able to get the dividend out without paying tax on it?

This might be better dealt with in your own thread rather than piggybacking on OP's but in brief my comments above related to HMRC's lack of interest in taxing investments in ISAs - dividends paid in foreign jurisdictions may still incur tax there but not in the UK, i.e. ISAs shelter investments from UK taxation only.

Langtang said:

What about CGT on the unwrapped ones that I sell, how is that worked out?

In the usual way, deducting acquisition value from sale value to calculate chargeable gain, and paying CGT if the gain exceeds the annual allowance (currently £12,300).
https://www.gov.uk/capital-gains-tax
https://www.gov.uk/tax-sell-shares