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ISA - basic question from a newbee!
in IG Trading Support - Dealing Questions
Posted
Hi - basic question from an ISA newbee coming up...
Within a Stock and Shares ISA, up to the £20,000 allowance each year to invest, I know that my returns are protected from Capital Gains and Income Tax. If my positions within the ISA grow over time and I subsequently sell my positions and re-invest the value in a fund that pays income, is my income from that fund protected from Capital Gains and Income Tax?
For clarity...invest £20,000 in Stocks and Shares wrapped in an Investment ISA today. Over the next 10 years the positions grow to £100,000 - sell positions and re-invest the £100,000 into a dividend paying fund - are the dividends and the funds still exempt from tax given this all comes from the initial £20,000 ISA Investment?
Thanks...