ISA stocks & shares query
ISA stocks & shares query
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Onz

Original Poster:

507 posts

222 months

Saturday 27th August 2011
quotequote all
Hi,

Quick query that I can't find the answer to having done a quick search...

Ignoring trading charges/fees etc., assuming I put £1k in a stocks & shares ISA and then invested it in company A - if the share price of company A doubled and I decided to sell, does all the money (original £1k + return) go back into my ISA with no tax deducted?

If I don't re-invest immediately and don't withdraw, what happens to the money with regards to interest?

Can I buy and sell as many times as I like? without any tax implications?

Any help will be greatly appreciated - I did try and speak to someone at Hargreaves Lansdown on the phone this morning to inquire but after 10 minutes on hold got bored!


bogie

16,796 posts

288 months

Saturday 27th August 2011
quotequote all
its tax free whilst its in there whether you buy n sell, make 10x your money, whatever ...sometimes there is a small interest on any cash held in there - check on the providers website, usually detailed there what the rate is

cannedheat

953 posts

291 months

Wednesday 31st August 2011
quotequote all
Onz said:
Ignoring trading charges/fees etc., assuming I put £1k in a stocks & shares ISA and then invested it in company A - if the share price of company A doubled and I decided to sell, does all the money (original £1k + return) go back into my ISA with no tax deducted?

The ISA merely serves as a wrapper within which you can trade. S&S ISAs shield the investment from capital gains and further tax liabilities on dividend income for high and top rate payers.

If I don't re-invest immediately and don't withdraw, what happens to the money with regards to interest?

Univested cash balances usually earn interest but the rate won't be great and the investment company might not allow you to do so for more than a short period. I know there are some HMRC rules regarding cash balances in S&S ISAs.

Can I buy and sell as many times as I like? without any tax implications?

Yes.

Onz

Original Poster:

507 posts

222 months

Thursday 1st September 2011
quotequote all
Thanks for the responses and confirming what I thought!

If only I'd pulled my finger out and set it up on the weekend and bought Barclays shares at 155 then I would have made a reasonable start judging by their performance the last few days.