Limit of an ISA account

A

aparoid89

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• Jan 18, 2012

• #1

If my ISA account has a limit of £10000 and I make an investment of £8000, then the value of the investment climbs over let's say £11000, what happens?

 

new_trader

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• Jan 18, 2012

• #2

aparoid89 said:

If my ISA account has a limit of £10000 and I make an investment of £8000, then the value of the investment climbs over let's say £11000, what happens?

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The limit is on how much you can deposit in 1 year, not on how much it can appreciate.

 

A

anley

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• Jan 18, 2012

• #3

Some people have ISAs worth n excess of £1million.

 

mightymayesy

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• Jan 18, 2012

• #4

anley said:

Some people have ISAs worth n excess of £1million.

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True... not me though!

Based on deposit only and can be a mix of cash and Stocks and Shares up to £5,340/£10,680.

ISAs are being adjusted for RPI for 2012/2013.

S

 

A

anley

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• Jan 18, 2012

• #5

Sadly I don't have one worth £1million either

 

scose-no-doubt

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• Jan 19, 2012

• #6

Nothing happens. Your gain is free from capital taxes. As NT says your limit is on what you can deposit per year though you'd have to see appreciation in excess of 10100 per annum to get any real tax saving from it.