Stocks and shares ISAs are well suited to long-term investment time frames. I hope my tax-free ISA will continue to grow in value over the coming years and decades. This may be partly due to me adding more resources.

But I think you could also try to raise the value of my ISA without even adding a penny in up-to-date funds.

Here are three moves I can make.

Please note that tax treatment depends on each client’s individual situation and may change in the future. The content of this article is for informational purposes only. It is not intended to be and does not constitute any form of tax advice. Readers are responsible for conducting their own due diligence and obtaining professional advice before making any investment decisions.

1. Don’t withdraw a penny

Shares within an ISA can sometimes pay dividends. They can be removed from the ISA packaging.

It makes sense to me why people do it. Perhaps they have an unexpected bill to pay or would like to have passive sources of income.

But by leaving these dividends in my ISA, I would have more to invest, even without putting in up-to-date cash myself.

2. Sell highly overvalued stocks

As an investor, I think it’s essential to have a sense of what we think each stock we own is worth. Different people’s opinions can and do differ, which is why we have a stock market. However, without having an idea of ​​what we think a stock is worth, it’s impossible to judge whether it appears to be undervalued or overvalued.

Sometimes the stocks I own may look overvalued. Sometimes they come to look Very overvalued. In such a situation, by selling these shares, I can convert them into cash and apply them to buy other shares that I think are much more attractive.

In a bubble, overvalued stocks can become even more overvalued. By selling, I lose part of my potential profits. However, I believe it makes more sense to cash in when I believe a stock is highly overvalued, rather than risk waiting for a sudden crash to bring the valuation down to earth.

3. Consider selling your weakest share

As a cautious investor, I make sure to diversify my stocks and shares ISA portfolio. At any given time, I will feel better about some of the stocks I own than others. Sometimes as investors we become emotionally attached to our investments.

Rationally, however, it is worth reviewing your ISA holdings from time to time, identifying the worst stock at the moment and then deciding whether it is worth keeping or simply selling it, even at a loss.

For example, I still hold on to shares in boohoo (LSE: BOOM). I still like the company’s brand lineup, gigantic customer base and proven business model.

But boohoo’s share price is plummeting. This year it dropped by 14% and in the last five years by as much as 88%. Even the recent pointed price raise is not due to business performance, but to talk of a potential breakup.

Why didn’t I sell? My assessment is that boohoo’s problems can be fixed and its commercial approach may produce results again in the future as it has in the past. However, the business trend is troubling – revenue fell 17% last year – and the company’s stock has fallen significantly in recent years.

For a struggling company on the stock market, sometimes things get better, but often they get worse. I intend to sell my boohoo shares if there is no clear evidence of recovery this year.