Do I have to disclose my ISA to HMRC if I haven’t burst the tax free limit for the year. Does T212 automatically submit all my account activity?
Don’t see why you would have to disclose your ISA if your within the allowance, unless you have tonnes of ISA accounts on the go 
ISA’s don’t count the allowance against the contents, it restricts how much you can contribute and then everything inside is tax free from HMRC. You don’t report anything for your ISA.
So really my question would be then HMRC don’t see or hear about your ISA. I’m concerned about any profits within, HMRC would have an account of that. This is all a child maintenance thing, got shafted by my ex so I’m trying to rebuild my life.
The ISA is just a tax wrapper if you hit the ÂŁ20k per tax year in deposits then you wait until next tax year to start and the counter gets reset so you add a potential another ÂŁ20k into the pot.
I think the counter on the deposit will prevent you depositing more than 20,000 and I assume funds over it would land in the Invest.
HMRC aren’t concerned about people with ISAs.
They are wanting to make sure people pay CGT if they exceed their allowance each tax year. That’s just relevant to Invest. They rely on people being honest with gains they have made.
Are you basically wanting to make sure your ex doesn’t know about the ISA account? I’m not sure of that relevance.
Are you putting in child maintenance money in and don’t want her to know?
HMRC will know all about the existence of the account as it’s part of the process for your ISA provider. they will know what is in it as well, as you can find reports on gov.uk that give detailed statistics regarding ISA contributions and market values etc. you just don’t need to report it yourself because its a government scheme so they handle everything with your provider.
the idea is that any profits you make in an ISA, you don’t have to pay any tax on - EVER - just for having earned it or withdrawing it. When the CMS ask HMRC for details regarding your money to determine child maintenance payments, they can only use “tax-able income” as part of their calculations.
This means that for child maintenance at least, your ISA is not going to be a factor in the calculations. As such, it’s ideal to put as much of your investments in the S&S ISA as possible because those earnings will not be considered, while a normal investment account would be since it is taxable.
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This is more about how the calculations are worked out. I loose 18% of income (pre-tax) to the CMS and concerned that any profit within the ISA would be taken into the calculation. Fear there would be having a good year in the market and then having to pay the liability the following year.
You got my point, thanks.
Do I taxed on withdrawals from the ISA?
no withdrawal tax. the first tax that would apply to that money would be VAT if you spend it.
That’s cleared things up, thanks very much for your help