Dumb S&S ISA question.

[98elise]

I have a Stocks and Shares ISA with H&L.

I"m assuming that much like a SIPP buys and sells within the ISA have no impact on the 20k annual allowance?

IIRC it's only when you move money out that it can on!y be put pack in under the current years allowance.

[bogie]

Yep, its only transfers in that counts towards the allowance, you can trade as much as you like within the ISA wrapper

[98elise]

Thanks, I thought it was that simple but wanted to check before making some changes to my funds.

[JulianPH]

Yes, all internal fund movements, income and growth are within your ISA (or SIPP). They have no impact whatsoever on your contribution allowance.

An £20,000 ISA contribution can grow to be worth millions without any personal income or capital gaines tax ever being paid (or due). That is the whole point!

There is no such thing as a dumb financial question though!