We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Saving on iSAs
Options

troubleshooter9
Posts: 1 Newbie
SIlly question - if I invest £20k in an ISA, if, say, it is worth £21k after a year, can I then add another £20K the following year or does it have to be £19k. either way does the whole £40k remain free of tax? Thanks
0
Comments
-
The interest does not count towards the 20K limit, just your contributions - so you can put in another 20K.
Yes, the full amount in ISA is tax-free.1 -
The amount that the ISA increases due to interest paid (or investment growth) is of no consequence, £20k can be added per tax year.1
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards