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    Hi
    So the allowance this year is £15240.
    Does that mean you can put £15240 this year into investment and the interest or profit earned is tax free and unlimited amount given that you cannot put more money in that year but only use the profit you earn back to investing.
    Or does that mean you can put how much money you want to invest but the profit gained back tax-free is maximum £15240 ?
    Kind of lost here


    Posted from TSR Mobile
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    I presume you are talking about ISAs? The total amount you can invest (ie money you actually put it, excluding reinvestments) is £15,240 and all the interest you make on that is tax free. So if the interest rate is 1% say, then you will get £152.40 at the end of the year tax free. That's not much to write about, is it!
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    So if you invest the total £15240 and get £30000 back does that mean the £30000 is tax free?


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    The limit is the cash amount you can put in during a tax year. Any interest on cash ISA and growth in stocks/shares ISA is tax free (no limit).
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    Do you guys have fb so I can learn more thank you


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    (Original post by Senhuang)
    So if you invest the total £15240 and get £30000 back does that mean the £30000 is tax free?
    Yes, but dream on lol. You'll get £200-£300 a year if that, and if they cut interest rates at the bank of England you may only end up with £50
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    But investment make a lot of money?


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    (Original post by Senhuang)
    But investment make a lot of money?
    Right now, some people wish they had not invested in the Pound, in shares or in property. Are you actually following what is going on at the moment? And if you want high returns on investments, investing in an ISA is certainly not the best thing to do.
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    (Original post by Senhuang)
    Hi
    So the allowance this year is £15240.
    Does that mean you can put £15240 this year into investment and the interest or profit earned is tax free and unlimited amount given that you cannot put more money in that year but only use the profit you earn back to investing.
    Or does that mean you can put how much money you want to invest but the profit gained back tax-free is maximum £15240 ?
    Kind of lost here


    Posted from TSR Mobile

    If you have an Investment ISA then so long as any profits (i.e. capital gains) or dividends are retained in the ISA there is no tax to pay. Those profits can be reinvested in other stocks & shares. But you can only reinvest by realising the profits in your investments (i.e. by selling some).

    And the allowance applies per year, so you can invest another £15k+ next tax year into the same ISA account (up to that years ISA limit).
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    So what is the best method to invest money? Any advice?


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    It is illegal for anyone to give you financial advice without proper qualifications and questionnaire. So you won't get any.
 
 
 
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