Bed and ISA

Options
Murmansk
Murmansk Posts: 929 Forumite
First Post Name Dropper First Anniversary
in Savings & investments
I've got some money in Vanguard LifeStrategy and in April I'll want put another £20K of what's already in there in my ISA account with Vanguard.

Will they be able to do that for me or will I have to sell £20K worth of my fund then put it back again via my ISA account?

As an aside, and related to my other thread re Vanguard from a day or two ago, my holding seems to have gone up in value by £1,400 in the last month or so - presumably I need to do my selling to increase my ISA at a time when it's "up" rather than down? But then again, if I were to be upping my ISA with FRESH MONEY it'd be good to do it when the value is "down"?

Comments

  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    edited 9 October 2017 at 7:51PM
    Options
    The funds will need selling to cash (and any capital gains possibility considered) as under HMRC rules only cash can be contributed into an ISA wrapper. If you are selling and buying it doesn't really matter when you do it the risk or opportunity of being out the market is about the same. They might be able to move the cash between accounts if you ask them to save cycling it through your bank.

    People say don't time the market but I find it makes me feel better doing transfers when the market is high and buying units when valuations are lower than previously.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    You have to sell and rebuy. If both the unwrapped funds and your ISA are with the same platform, they may be willing to take both transactions as a single instruction with effectively no time out of the market, and possibly at reduced cost.
    Eco Miser
    Saving money for well over half a century
  • chockydavid1983
    chockydavid1983 Posts: 713 Forumite
    First Anniversary First Post
    Options
    Are there any platforms that are known to do this as a single transaction? Also, any problems with any particular platform doing this in general? I'll probably be in a position next tax year where I'll have extra cash to invest above the ISA limit.
  • Tom99
    Tom99 Posts: 5,371 Forumite
    First Post First Anniversary
    Options
    chockydavid1983 wrote: »
    Are there any platforms that are known to do this as a single transaction? Also, any problems with any particular platform doing this in general? I'll probably be in a position next tax year where I'll have extra cash to invest above the ISA limit.

    I have done that with the Halifax but you have to do it over the phone. At the time they only charged one dealing fee not two.
  • Imnoexpert_2
    Imnoexpert_2 Posts: 340 Forumite
    First Anniversary First Post Combo Breaker
    Options
    Interactive investor don’t.

    But no surprise there.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards