NISA numbskull
Posted: Fri Mar 15, 2024 8:37 am
Hi folks,
I opened a general NISA account in 2019 and stupidly ignored a letter form my bank last October saying the account would become taxable as of January. I have not touched the funds. I'd like to continue with a new NISA but it looks like I have to sell my funds first. Is there any way to avoid the 20% capital gains tax? I was thinking I wouldn't have to worry about it until the end of 2024. I realize it was a big mistake to ignore the letter.
Thanks for any advice!
I opened a general NISA account in 2019 and stupidly ignored a letter form my bank last October saying the account would become taxable as of January. I have not touched the funds. I'd like to continue with a new NISA but it looks like I have to sell my funds first. Is there any way to avoid the 20% capital gains tax? I was thinking I wouldn't have to worry about it until the end of 2024. I realize it was a big mistake to ignore the letter.
Thanks for any advice!