Selling Shares Within An ISA Help Please?
Posted: April 25th, 2018, 8:58 am
Hi all,
Just a quick question - If I were to invest my full 20k allowance into my stocks & shares ISA, spend the whole amount on shares right away and then find that the value of my shares has increased such that it would be worthwhile selling them, what happens when my account is then holding more than my 20k limit?
Eg. I invest my max 20k on 6th April, buy 20k of shares in the middle of April, then in December I see that they are now worth 25k, so decide to sell. As of December, I now have 25k cash in my S&S ISA account for this tax year, is the extra 5k classed as profit? Can I purchase new shares with the whole 25k, or, as it will be over the 20k limit, will I have to withdraw the extra 5k to bring it back down to the limit?
Many thanks in advance,
Mel
Just a quick question - If I were to invest my full 20k allowance into my stocks & shares ISA, spend the whole amount on shares right away and then find that the value of my shares has increased such that it would be worthwhile selling them, what happens when my account is then holding more than my 20k limit?
Eg. I invest my max 20k on 6th April, buy 20k of shares in the middle of April, then in December I see that they are now worth 25k, so decide to sell. As of December, I now have 25k cash in my S&S ISA account for this tax year, is the extra 5k classed as profit? Can I purchase new shares with the whole 25k, or, as it will be over the 20k limit, will I have to withdraw the extra 5k to bring it back down to the limit?
Many thanks in advance,
Mel