Stocks and Shares ISA Question

[torqueofthedevil]

My general investment strategy was to aim for growth initially and move to dividend investing in later years.

I know CGT isn’t paid on any growth on share price increases within a s&s isa and no tax on dividends.

However if for example in 10 years you had £200k invested in 10 s&s isas, now worth £400k and you decided to sell all those shares to buy different shares - would the process of selling them take all that money out of the isas and effectively close them?

I.e when buying £400k worth of new shares would only £20k be in a tax free isa (that years allowance)? Or is there a better way of retaining the tax benefit?

[torqueofthedevil]

Ah ok brilliant. I just thought the “sell” would essentially extract all the cash out and “close it” somehow. Thank you.

[torqueofthedevil]

Simpo Two said:

Philvrs said:

Also in your example I don’t understand why you would have 10 s&s isa accounts, just hold one with the £200k in.
You would have a management/account/platform fee for each vs one.

Some people think you have to open a new ISA each year, much as you'd open a new bank account. They don't realise that an ISA is just a big elastic bag that you can keep expanding, the only limit being the £20K you can add each year.

This was exactly my thinking! Glad you answered it because I was going to ask this very question but wasn’t sure how to articulate it!

And to answer another poster - no I only have one isa!