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!
ISA not sure...
Options
Savour
Posts: 3 Newbie
Hi, :rotfl:
If I invest in a Stocks and share ISA in the tax year 2008 with 4,200 pounds and lets say I get lucky and the shares increase in value to 4,300 pounds can I sell the shares in my ISA account and then re-invest them in another set of shares and not damage my allowance as I have 3,000 in a cash ISA?
That is to say can I use my gain (of 100 pounds) in the 2008 tax year to re-invest in other shares in the same tax year without getting in trouble?
Kind Regards,
If I invest in a Stocks and share ISA in the tax year 2008 with 4,200 pounds and lets say I get lucky and the shares increase in value to 4,300 pounds can I sell the shares in my ISA account and then re-invest them in another set of shares and not damage my allowance as I have 3,000 in a cash ISA?
That is to say can I use my gain (of 100 pounds) in the 2008 tax year to re-invest in other shares in the same tax year without getting in trouble?
Kind Regards,
0
Comments
-
All increases (gains) are held within the tax wrapper and just become part of the 'investment'. Assuming this is a stocks and shares ISA where you can retain the cash from a sale within the ISA then the £4200 has just become £4300 and you can do what you like, purchase £2000 and £2300 (or whatever).
There isn't any differentiation between your original invested capital and profit (£100).
cloud_dogPersonal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
And in the old 'Self-Select ISAs' you could even move to an all-cash position, still inside the ISA wrapper, when things get a little volatile! Remember, that cash interest is taxed at 20%, and dividend income from shares is taxed at 10%, even inside ISAs. Also, some brokers don't like you to take a cash position for too long inside the wrapper...in which case you transfer to another provider! (no advice intended)
Some of the really good traders have taken their ISAs to six-figures, despite only putting in £7000 per annum. Better than I've fared, admittedly.
______________________________Darth Traderusing the Force of Compoundingsince a long time ago...0 -
Think of the ISA as a container. You can buy and sell and switch as much as you like as long as the money remains in the ISA "container". The minute you withdraw the money out of the ISA, you lose the tax free status.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
I do like the new rules, where you can adjust the amount in a cash ISA (max 3.6k) and your S&S ISA (max 7.2k). Ideal for adjustment, as your circumstances change.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
-
ISA not sure...
:rotfl: I like it !!!!!!!!!!!!! Good Headline !!!!!! :rotfl:'In nature, there are neither rewards nor punishments - there are Consequences.'0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards