Stupid ISA question

solidpro

I know I should know but I don't know.

Currently an annual £20k personal pay-in limit, right?

If I already have a load of ISA and I make some money on that S&S ISA in that year and it's automatically reinvested as we go, does that reduce the £20k I can pay in?

MX5huggy

No

as you say it is a pay-in limit, growth within the isa does not count. 

Example I’ve paid in £8000 so far this year this has grown by 5
£500 so I have £8500 in my ISA today yet I can still pay in £12000 more this year. Equally If I had lost £500 I would still be only able to pay in £12000.

tebbins

No, say you paid in £20k at the start of the 2020/21 tax year and bought £20k worth of TSLA, you'd be sitting on about £95k now and it has nothing to do with you being able to pay in another £20k in 21/22, and there's nothing the government can do about it (until they change the law).

csgohan4

bare in mind the 20k limit is across all ISAs' you hold, including LISA.

So I put 4k in my lisa and 16k in my S+S isa as my max contribution every year until the HMRC changes it again