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  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    edited 23 November 2016 at 7:21PM
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    merlin777 wrote: »
    I'll ask the question but the last time I checked you couldn't transfers shares from isa to isa - you have to effectively sell them in one and rebuy them in the other, incurring commission and stamp duty.

    I'd be delighted if someone can tell me I'm wrong!
    Merlin, you may be confusing transferring in non-ISA held stocks in to an ISA, i.e. from a normal dealing account.

    You can transfer the ISA account from / to brokers.

    Most (all?) will charge a fee per stock held as part of the transfer process. Some receiving S&S ISA providers offer an introductory payment which may negate the cost of doing this. Alternatively, you would need to sell the investments and then transfer the ISA account (in cash) to your new provider. Obviously cashing in the investments would incur costs (sell / buy costs) but those are your choices.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • merlin777
    merlin777 Posts: 60 Forumite
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    cashing it in and transferring the cash to the other ISA would also use up my ISA allowance - or not be allowed if I've already used it up I would think?

    But I'll ask Interactive Investor - thanks for the tip.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    merlin777 wrote: »
    cashing it in and transferring the cash to the other ISA would also use up my ISA allowance - or not be allowed if I've already used it up I would think?
    No, provided you have the receiving ISA manager initiate the transfer.
    Note transfer is a technical term here, and does not mean taking the cash out of one ISA and paying it into another, it means transferring the ISA (and it's contents) between managers.
    Eco Miser
    Saving money for well over half a century
  • merlin777
    merlin777 Posts: 60 Forumite
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    so the contents of one isa doesn't go into the other - I effectively still have 2 isas but they are both managed by (in my case) interactive investor?
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    Having arrived at the destination manager they will in all probability be merged into one (though I have seen separate ISAs maintained in the past).
    The point is, the cash (or shares) remains in a ISA at all times, and is not considered a new subscription.
    Eco Miser
    Saving money for well over half a century
  • Biggles
    Biggles Posts: 8,209 Forumite
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    merlin777 wrote: »
    I'll ask the question but the last time I checked you couldn't transfers shares from isa to isa - you have to effectively sell them in one and rebuy them in the other, incurring commission and stamp duty.
    No, as Eco Miser says, the whole ISA is transferred, there is no sale/purchase of shares and no use of allowance. In other words, it's just a transfer of broker, you stay as the beneficial owner all through the process, that's always been the case.
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    merlin777 wrote: »
    so the contents of one isa doesn't go into the other - I effectively still have 2 isas but they are both managed by (in my case) interactive investor?
    As others have mentioned, you need to think about an ISA Account as a basket which holds 'things' (investments / money).

    You could, if you wanted to, make new cash contribution (deposit) to a new ISA provider each year, i.e. year1 Halifax, year2 TD Direct, year3 III, etc, etc.

    If you did this over 10 years you would have money (cash) deposited in to 10 separate ISA accounts with 10 different ISA providers. Each of your contributions (deposited money) is attributed against a tax-years allowable subscription (behind the scenes).

    If you then chose to transfer 9 of ISA accounts to amalgamate them with a single ISA provider (lets assume III) then, you would transfer the 9 ISA accounts to III and you would end up with one ISA Account with III with ten subscription years associated with your one account.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • sabretoothtigger
    sabretoothtigger Posts: 10,035 Forumite
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    On Wednesday 14th December we're giving you another opportunity to trade UK stocks at a reduced dealing commission rate of £3.95 per trade placed online for a limited period between 12:15pm and 2:15pm. The same great offer applies to any trades on international stocks between 8am and 9pm.
    Remember, TradePlan, UK Stamp Duty and foreign currency conversion charges continue to apply and Fund trades are excluded from the reduced dealing commission offer. If you’d like to trade during this event, you’ll need to pay money into your Share Dealing Account or Stocks and Shares ISA before the event. If you pay money in using your debit card, it will be available to invest immediately.
    :money::money:
  • Artemis21
    Artemis21 Posts: 10 Forumite
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    I have some US shares held in a US online account, and want to transfer some to my partner so that they can be sold tax-efficiently.

    The US provider will not open a new account for a non-US resident and so I'm looking for a provider that will hold the shares, sell them when required (probably only a couple of trades per year) and not charge much, either in fees or currency charges. I'm not sure if this should be a US or UK company.

    I've had a look at the candidmoney summary but I think that currency charges may be the key and they're not shown. As you may have guessed, I'm new to all this and hold the shares due to a previous employer share scheme.

    So, any recommendations for such a platform?

    Thanks
  • sabretoothtigger
    sabretoothtigger Posts: 10,035 Forumite
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    If you ask about currency charges you would need to state size of the deal. The charges for Forex are not straight forward.
    I much prefer their % approach but the amount of shares I deal is small so % is fine for me, others might be better off finding a proper broker with fixed costs on a large deal it works better

    this was mentioned above, looks valid to check through - http://www.candidmoney.com/guides
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