You can invest a total amount of £20,000 across every ISA type during a given tax year – which runs from 6 April in one year to 5 April in the next. Under new rules, which came into effect on 6 April 2024, you can now contribute to multiple stocks and shares ISA accounts in the same tax year.
* Tax laws are subject to change and depend on individual circumstances. Tax laws may differ in jurisdictions other than the UK.
What happens to any realised profits if they exceed the tax allowance?
Any gains made in an ISA are free from tax, regardless of whether or not the gain takes you above your annual allowance.
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