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ISA Query - Limits
FutureInvestor1
Posts: 5 Forumite
Hi All, I have a stocks and shares ISA with a value of around £19,500 of which £15,000 is invested and the remaining £4,000 is my investment return.
My question relates to ISA limits - I understand that the maximum I can deposit is up to £20,000 in any tax year. However, does that take into account what happens if the value of the portfolio grows to an extent that it exceeds the yearly threshold? It is not inconceivable that my portfolio will grow to over £20,000 fairly soon with the vaccine roll out continuing to improve. What happens if stocks in the ISA perform well and the value of the ISA exceeds the limit? Is there a standard alternative course of action people take? Thanks in advance
My question relates to ISA limits - I understand that the maximum I can deposit is up to £20,000 in any tax year. However, does that take into account what happens if the value of the portfolio grows to an extent that it exceeds the yearly threshold? It is not inconceivable that my portfolio will grow to over £20,000 fairly soon with the vaccine roll out continuing to improve. What happens if stocks in the ISA perform well and the value of the ISA exceeds the limit? Is there a standard alternative course of action people take? Thanks in advance
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The value of the ISA is not relevant, only your contributions to it.
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