I am relatively new to ISA investing. The last year (ISA year 2020-2021), I opened my ISA and invested £20k. One of my share picks has done exceptionally well, and I now sit at a profit of £30k.
If I were to sell my investment and realise the profit, I understand that it would be tax-free; however, if I chose to reinvest that money into the same or different company, would my investment go towards my ISA 2021-2022 allowance?
The reason I want to make sure is the company that I invested in has taken a dip recently, and I wanted to know how best to sell and if the price was to fall further rebuy the shares as it has strong long term potential.
ISA realising profits
in Shares and ETFs
Posted
Hi
I am relatively new to ISA investing. The last year (ISA year 2020-2021), I opened my ISA and invested £20k. One of my share picks has done exceptionally well, and I now sit at a profit of £30k.
If I were to sell my investment and realise the profit, I understand that it would be tax-free; however, if I chose to reinvest that money into the same or different company, would my investment go towards my ISA 2021-2022 allowance?
The reason I want to make sure is the company that I invested in has taken a dip recently, and I wanted to know how best to sell and if the price was to fall further rebuy the shares as it has strong long term potential.
Thanks
Mez