Share ISA clarification
Discussion
Could someone please clarify if the following is possible with a share ISA?
In the current tax year (£20k allowance)
1. Deposit £20k in S&S ISA
2. Invest in shares, which shoot up and double the pot.
3. Sell all the shares
3. Withdraw profit, of say £10k, with no income tax/cap gains tax implications etc
4. Re-invest the remaining £30k still within the shares ISA
I think this is how it work, but not 100% sure
In the current tax year (£20k allowance)
1. Deposit £20k in S&S ISA
2. Invest in shares, which shoot up and double the pot.
3. Sell all the shares
3. Withdraw profit, of say £10k, with no income tax/cap gains tax implications etc
4. Re-invest the remaining £30k still within the shares ISA
I think this is how it work, but not 100% sure
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