To reduce CGT INVEST IN AN ISA The below is something I read on the internet. If a person disposes a second house and makes substantial capital gain say £100k. Does the below mean he can invest £15k in an ISA, therefore his taxable gain will be reduced to £85k? If the house was sold in Aug-15 (FY15/16), when does he have to invest in the ISA to be in line with tax rules? Gains (and losses) held within an Isa are exempt from CGT so it makes sense, particularly for higher-rate taxpayers, to utilise the Isa allowance each year. From April 2014, an individual aged over 18 can invest up to £11,880 in a Stocks and Shares Isa. From July 2014, there will be a single new Isa (a Nisa) of up to £15,000, which can be invested in stocks and shares or cash.