Hi, this confuses me. I know you can only pay into one stocks and shares ISA each tax year but can you have more than one open??
Yes you can but you can only subscribe (add funds) to 1 a year. So you could have an S&S ISA with multiple providers and buy and sell as you wish but just not add funds to more than 1.
Yeah you can open a new one every year if you really wanted to, just have to use only one each tax year. So if you already have one it can remain open and you can open a different one the following tax year
Thanks for clearing that up!
whereby you’ve maxed £20k pay in limit and due to trading reached 60k portfolio.
Would the 60k be exempt from CGT?
yes. whether its 6k, 60k or 600k, no matter what you earn in the ISA you will never pay CGT on it.
Awesome thanks mate