Buying and selling stocks & shares ISA within the SAME tax year

MickeyEllis

Hi (I know it's not ideal but I have reasons...) I bought my £20k ISA allowance earlier in the year and within the same tax year sold it - can I buy another £20k of ISA within the same tax year? Thanks. I've tried the HMRC helpline and they didn't know.

p00hsticks

I'm not sure I understand exactly what you've done. 

Normally you'd open a S&S Isa, deposit £20k cash into it and then buy and sell shares within that Isa wrapper. You don't 'sell' the ISA itself, just the shares within the ISA wrapper (although you could then take out all the cash and close the ISA down). 

If you've already put £20k into a new Isa this tax year then you can't put any more money into another one this tax year. 

eskbanker

MickeyEllis said:

I bought my £20k ISA allowance earlier in the year and within the same tax year sold it - can I buy another £20k of ISA within the same tax year?

As above, it would be helpful to clarify using more accurate terminology, but even if you withdrew the £20K outside the ISA wrapper, you may be able to redeposit it if the ISA is a flexible one and is still open?

wmb194

MickeyEllis said:

Hi (I know it's not ideal but I have reasons...) I bought my £20k ISA allowance earlier in the year and within the same tax year sold it - can I buy another £20k of ISA within the same tax year? Thanks. I've tried the HMRC helpline and they didn't know.

So in 2025 you opened a S&S Isa, deposited £20k and invested it. Then you sold the investments and withdrew the money. If so, is the account still open? Is it a flexible Isa?