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I am new to Stock and Share ISA investing. I am planning to make use of the New ISA limit of £15000 from this year. I am aware that the profit or loss made out of Share ISA is tax free.

Does this mean that even as a higher rate tax payer, if I make a profit out of share ISA of around 30K in any year on selling my ISA portfolio, would it be completely tax free of Capital Gains Tax or would I need to pay the CGT limit (£11000) minus the profit obtained on selling my portfolio.

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Assets held within an ISA or New ISA are completely free of CGT, so you won't have to pay either income tax or capital gains tax.

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  • Isa investors can not claim back the 10pc tax credit on dividends so you do pay a small amount of tax
    – Pepone
    Commented Dec 29, 2014 at 22:39

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