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Switching within a Stocks & Shares ISA

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raybarrow
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Switching within a Stocks & Shares ISA

#459527

Postby raybarrow » November 20th, 2021, 11:10 am

Hi,
Really simple question I think. Brain isn't functioning too well after trying to reinstate Mrs B's driving licence (It was surrended after a brain op).
We have S&S ISA with Interactive Investor (following Selftrade/EQIs' demise). One of the investments (Invesco High Inc) is not doing well and we want to change it. There is an option to 'Switch' investments within Interactive Investor. Am I right is assuming that using the 'Switch' option means that the ISA status is not compromised?
Ray.

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Re: Switching within a Stocks & Shares ISA

#459537

Postby pje16 » November 20th, 2021, 11:19 am

Ray
not sure what you mean by switch
from where to where?

thanks
Paul
PS check with II if they have any exceptions to this
https://www.gov.uk/individual-savings-a ... your-money

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Re: Switching within a Stocks & Shares ISA

#459572

Postby Boots » November 20th, 2021, 12:05 pm

Hi Ray,

I have an II account, but I can't see any Switch option. However I don't hold any funds, so perhaps it is exclusive to them.

I did a search for help on "Switch", but that didn't come up with anything helpful.

When I do a change of investment (ETFs) I have to do a trade to sell the investment, then wait for the settlement date and do another trade to purchase the new investment. I suspect from another thread that waiting for clearance of settlement may not be required for all account types.

Using my method, the ISA status is not put at risk.

Perhaps wait until your brain is firing on all cylinders?

Good luck!

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Re: Switching within a Stocks & Shares ISA

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Postby Stompa » November 20th, 2021, 12:11 pm

raybarrow wrote:One of the investments (Invesco High Inc) is not doing well and we want to change it. There is an option to 'Switch' investments within Interactive Investor.

Having just taken a look I'm not sure I can see the 'Switch' option you're referring to, though presumably that would be for switching to a different ISA

Don't you just sell the fund you no longer want, and subsequently buy whatever you want to replace it with (within the same ISA)?

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Re: Switching within a Stocks & Shares ISA

#459588

Postby mc2fool » November 20th, 2021, 12:54 pm

Well I have an ii ISA and I do have a couple of funds in it and I too cannot see a "Switch" option anywhere. Just in case this is something specific to came-from-Selftrade/EQIs accounts, perhaps you could describe exactly what you do to get to a state where you see this "Switch" option, and where it is. If you can manage, posting a screen capture would be useful -- don't forget to redact any personal info!

In any case, as others have said, you just need to put in a Sell of your Invesco High Inc holding -- simplest is if you click the Sell button in that row of the portfolio view -- then wait 2 or 3 days for the money to arrive, and then put in a Buy for whatever you want to replace it with.

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Re: Switching within a Stocks & Shares ISA

#459608

Postby raybarrow » November 20th, 2021, 2:04 pm

Hi Folks,
Sorry about this but brain is now working. Too many investments, sometimes too little brain power!
Firstly it's not Interactive Investor it's a Fidelity Investment Account.
Secondly it's not an ISA.
Thirdly I've had lunch and coffee and everything in my original post is garbage, apart from Mrs B's Driving Licence.
Switching is like a 'shortcut' to buying and selling.
It's now all under control, well...
Please accept my apologies for the confusion.
Ray.


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