IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Can I move existing shares into ISA?
Closed Thread
Views: 8,799
Thread Tools Search this Thread Display Modes
# 1
Dave2112
Old 22-02-2007, 11:47 PM
MoneySaving Convert
 
Join Date: Mar 2006
Posts: 71
Default Can I move existing shares into ISA?

Hi - I haven't set up an ISA this year (i.e. nothing, cash or stocks/shares) but have some shares that might benefit from being in an ISA wrapper. How do I go about transferring them into an ISA? Value is about £2k. Not looking to cash them in any time soon as they are a very long term investment.

for info also have £2k which I might put in a cash ISA or invest in shares or funds. Tks Dave.
Dave2112 is offline
Report Post
# 2
Dave2112
Old 23-02-2007, 12:07 AM
MoneySaving Convert
 
Join Date: Mar 2006
Posts: 71
Default

Have now found...

I already have some shares; can I transfer these into my ISA?
The only shares that can be transferred directly into an ISA are those that have been acquired through one of the following routes:

a savings-related share option scheme
an approved employee profit-sharing scheme
an employee share ownership plan.
In all other cases, you would need to sell the shares, put the money into your ISA and then buy back the shares. This is known as a 'Bed and ISA'.


as the spread is quite wide for these shares....62p per share with possible a 5p spread (can't get accurate figure) not sure it's worth it ??
Dave2112 is offline
Report Post
# 3
cheerfulcat
Old 23-02-2007, 6:04 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jan 2004
Posts: 3,167
Default

Are they AIM listed by any chance?
cheerfulcat is offline
Report Post
# 4
ctdctd
Old 23-02-2007, 7:38 AM
MoneySaving Stalwart
 
Join Date: Apr 2006
Posts: 644
Default

IMHO, it's only worth having shares in an ISA if you think you will exceed the Capital Gains Tax threshold of £8500 as you don't get any other tax relief.

So, assuming you don't have any other investments that might make this possible, it's not worth selling and reinvesting your shares.

And if the shares are traded on the AIM market they can't go in an ISA anyway.
Do Money Saving sites make you buy more bargains - and spend more money?
ctdctd is offline
Report Post
# 5
cheerfulcat
Old 23-02-2007, 8:04 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jan 2004
Posts: 3,167
Default

Quote:
Originally Posted by ctdctd
And if the shares are traded on the AIM market they can't go in an ISA anyway.
Not true. Many AIM shares have dual listings and are permitted in an ISA.
cheerfulcat is offline
Report Post
The Following User Says Thank You to cheerfulcat For This Useful Post: Show me >>
# 6
ctdctd
Old 23-02-2007, 8:25 AM
MoneySaving Stalwart
 
Join Date: Apr 2006
Posts: 644
Default

Thanks Cheerfulcat - didn't know that.
Do Money Saving sites make you buy more bargains - and spend more money?
ctdctd is offline
Report Post
The Following User Says Thank You to ctdctd For This Useful Post: Show me >>
# 7
gazhawkins
Old 24-02-2007, 7:47 PM
MoneySaving Stalwart
 
Join Date: Jul 2006
Posts: 231
Default

Share ISAs are really only of use to higher rate taxpayers, or those lucky enough to be liable for capital gains tax for gains over 8500 quid.

Personally, I'd be grateful to get a capital gain of a tenner!

There's no longer any tax relief on ISA dividends, thanks to Gordon 'Gekko' money grabbing Brown.

Not sure what Cheerfulcat is on about re: dual listings of AIM shares. I would have thought that 99.9% of companies are quoted either on AIM or the LSE main market - but not both. Foreign shares or those quoted on PLUS markets (previously OFEX) aren't allowed either.

Last edited by gazhawkins; 24-02-2007 at 7:50 PM.
gazhawkins is offline
Report Post
# 8
cheerfulcat
Old 24-02-2007, 8:11 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jan 2004
Posts: 3,167
Default

Quote:
Originally Posted by gazhawkins

Not sure what Cheerfulcat is on about re: dual listings of AIM shares. I would have thought that 99.9% of companies are quoted either on AIM or the LSE main market - but not both.
Dual listed means listed on a foreign market as well as on AIM. Actually, I left a bit out; they need to be listed on a recognised stock exchange and be " qualifying companies ".
Quote:
Foreign shares [...] aren't allowed either.
Yes they are.

HMRC leaflet

Oh, and the notion that ISAs are only of use to higher rate taxpayers is wrong as well. Interest from bonds and gilts is still tax free, the annual CGT exemption looks very small after ten years of regular investment and you never know when your tax position is going to change.

I am reminded of the people who said similar things about PEPs when they were introduced...

Last edited by cheerfulcat; 25-02-2007 at 11:45 AM.
cheerfulcat is offline
Report Post
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 10:29 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 22 October 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

TuneChecker Top Albums

  • ED SHEERANX (DELUXE EDITION)
  • STATUS QUOAQUOSTIC (STRIPPED BARE)
  • SAM SMITHIN THE LONELY HOUR (DELUXE EDITION)

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.