Hi Folks,
Am I able to transfer some shares that I own into a stocks and shares ISA?
Thanks.
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Transferring shares into an ISA
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- Lemon Pip
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- 2 Lemon pips
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Re: Transferring shares into an ISA
No, unfortunately not. You have to buy shares within the ISA and sell the ones you currently have outside the ISA.
I presume this is to save any arguments about what the transfer value would be and how much would be counted against the annual allowance.
I presume this is to save any arguments about what the transfer value would be and how much would be counted against the annual allowance.
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- Lemon Half
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Re: Transferring shares into an ISA
wanderer wrote:No, unfortunately not. You have to buy shares within the ISA and sell the ones you currently have outside the ISA.
Many Brokers will do both transactions back to back at mininlmal cost. Look for references to "Bed & ISA".
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- The full Lemon
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Re: Transferring shares into an ISA
...Not unless:
Tax and Employee Share Schemes
https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa
You can transfer up to £20,000 of employee shares into a stocks and shares Individual Savings Account (ISA) if you have shares in a:
Save As You Earn (SAYE) scheme
Share Incentive Plan (SIP)
Your ISA provider must agree to the transfer
Tax and Employee Share Schemes
https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa
You can transfer up to £20,000 of employee shares into a stocks and shares Individual Savings Account (ISA) if you have shares in a:
Save As You Earn (SAYE) scheme
Share Incentive Plan (SIP)
Your ISA provider must agree to the transfer
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- The full Lemon
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Re: Transferring shares into an ISA
Alaric wrote:wanderer wrote:No, unfortunately not. You have to buy shares within the ISA and sell the ones you currently have outside the ISA.
Many Brokers will do both transactions back to back at mininlmal cost. Look for references to "Bed & ISA".
True but only as part of your annual subscription to your ISA. Otherwise you have to do it manually, using cash already in the ISA.
Also note that if you are not careful you may end up with fewer shares due to frictional costs like stamp duty.
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- Lemon Pip
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