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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
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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
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