ISA question

Chad Seven

Junior member
26 2
Not really trading related, but related to money which everybody here is interested in and knowledgeable about.

Consider a scenario where £30,000 is deposited into an ISA and invested in financial assets The value of the ISA then increases by £20,000 to £50,000 via capital gains.

In the current tax year the initial sum of £30,000 and a further £12,500 of capital gains can be withdrawn from the ISA without incurring any tax. The following tax year the remaining £7,500 can be withdrawn so that the entire £50,000 has been withdrawn without incurring any tax.

Is my understanding correct?
 

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