several questions about B&B rule and ISA

🤝 Help
1

Hi everyone.

Thanks to myself getting into these problems :weary:

  1. I bought and sold shares of the same stock in 2 different trading platform within 30 days. Should I calculate the gain and loss with combining all trade records from 2 platforms?

  2. I bought shares and sold them all 2 days later in a general investment account. After 1 week, I bought and sold the same shares in S&S ISA. Does the B&B rule apply in this case?

  3. I deposit GBP 20000 into my S&S ISA last tax year and have gain of GBP 10000 by selling shares which I know this is tax-free. How about if I invest GBP 30000, do I have to pay tax since GBP 10000 is derived from the deposit?

Thank you! :smiling_face_with_tear:

2

You get 20,000 allowance for deposits each year. Any gain from those deposits, providing they stay held in the account do not matter, you’re free to deposit 20,000 again.

3

Hi Scrooge. Thank you for your reply. :slightly_smiling_face:
I am sorry it is my problem not stating the questions clear :bowing_woman:
If I reinvest GBP 20000(deposit)+ 10000(gain)=GBP 30000 in the stock market , fortunately, I earn again, let say gain of GBP 500.
Can I still enjoy the tax free benefit from this gain(500) derived from this 10000?

Thank you :bowing_woman: :bowing_woman:

4

Remember the act is on deposits - that’s the only thing that matters. Money coming from your own account outside the ISA into the ISA.

So say you invest 20k
You make 10K = 30K total
You deposit in the next year another 20K = 50K total
You make 25K = 75K total

All of this is tax-free in perpetuity, providing you stick to the 20k deposit limits.

1 Like
5

Thank you very much :bowing_woman: :bowing_woman:

6
  1. Yes.
  2. No.
  3. has been answered by @Scrooge_McCodf
7

Appreciated for that, Richard :bowing_woman: :bowing_woman:

8

perpetuity until the legislation changes :+1: :rofl:

1 Like
9

Is ‘legislative-based perpetuity’ the right term? :grin:

1 Like
10

Oh there’s always more that can be added :wink: