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Transferring shares into an ISA

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pompeygazza
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Transferring shares into an ISA

#464745

Postby pompeygazza » December 10th, 2021, 1:30 pm

Hi Folks,

Am I able to transfer some shares that I own into a stocks and shares ISA?

Thanks.

wanderer
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Re: Transferring shares into an ISA

#464746

Postby wanderer » December 10th, 2021, 1:36 pm

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.

Alaric
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Re: Transferring shares into an ISA

#464750

Postby Alaric » December 10th, 2021, 2:08 pm

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".

XFool
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Re: Transferring shares into an ISA

#464783

Postby XFool » December 10th, 2021, 3:33 pm

...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

Lootman
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Re: Transferring shares into an ISA

#464789

Postby Lootman » December 10th, 2021, 3:54 pm

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.

pompeygazza
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Re: Transferring shares into an ISA

#465652

Postby pompeygazza » December 14th, 2021, 9:50 am

Thanks guys.


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