YES - all dividend. interest and capital profit from sales etc IS tax free in an ISA, even if you then take all the cash out.
What I was replying to was about no tax if you buy shares with the profits. If in an ISA ok, no issue. If in a fund and share account ( I use HL ) then profits liable for tax no matter what you do with them - buy more shares, take cash out etc.
WPA5 - I had not heard of the ability to discount for tax if you buy back in ( same company or any company ? ) the same share with the profits / whole proceeds... interesting as that's what I sometimes do, top slice and buy more if price falls.
@DaveC55, As far as I understand it, once you dispose of an asset it comes under CGT ( outside of an ISA tax wrapper). Yes there are reductions for initial cost of asset and fees, and an allowance from the previous 7? years of declared losses against current year profits. And some allowance if you inherited the asset. If you take the cash out of the trading fund, or re-invest ( in more shares etc. ) then you have still disposed of an asset and if you made a profit, CGT kicks in .
Any one know better, as I re-invest my share investment / trading profits in more shares rather than taking cash, so am I paying CGT in error?
I only started trading/investing myself Feb this year, as I was annoyed that my savings and ISA's dropped interest into the 0.0X%'s. So I moved them to a trading platform to see if I could do better. SO while it was money I **could** afford to lose, I would prefer not, and if I could get 2,-5% profit in the year I would be happy! As it was, I was up 20% in 3 months, then lost 2/3 of that profit in June with the market drops, had recovered that until this Monday, lost 90% of this years profit as I was not in the shares that rallied but the shares that dropped a lot!
Just in profit for this year .. but it's a roller coaster. Read up, research the companies, markets, LSE boards like this. And watch the charts / prices as much as you can as things change quickly.
So the short answer to how I bought shares, moved my savings and ISA's !
Enjoy and GL
PS - still up in GGP - my sp range is 8p to 22p cost.