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  • FIRST POST
    • adonis10
    • By adonis10 17th Jul 17, 9:55 PM
    • 1,387Posts
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    adonis10
    Transferring s&s isa
    • #1
    • 17th Jul 17, 9:55 PM
    Transferring s&s isa 17th Jul 17 at 9:55 PM
    Say I want to transfer from HL to a new provider, am I able to transfer my holdings in the funds I have with HL or would it be a case of transferring cash and having to re-invest within the new providers isa?
Page 1
    • soulsaver
    • By soulsaver 17th Jul 17, 11:03 PM
    • 1,327 Posts
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    soulsaver
    • #2
    • 17th Jul 17, 11:03 PM
    • #2
    • 17th Jul 17, 11:03 PM
    If you want to retain your ISA status you don't do the transfer at all, you ask the receiving platform to organise the transfer.

    You can go to cash & transfer which is usually quickest... and(but) you'll be out of the market while the transfer is effected and will incur fees to buy back.

    Or you can transfer in specie which will take longer than cash with shares... maybe even longer with funds.
    Last edited by soulsaver; 17-07-2017 at 11:08 PM.
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
    • AnotherJoe
    • By AnotherJoe 17th Jul 17, 11:26 PM
    • 7,065 Posts
    • 7,539 Thanks
    AnotherJoe
    • #3
    • 17th Jul 17, 11:26 PM
    • #3
    • 17th Jul 17, 11:26 PM
    OP, "it depends".

    Some shares and funds can be transferred as is without being sold (this is called "in specie" as per soulsaver ) others can't.

    It depends on the exact fund. If the provider you are transferring to has the exact same fund available you can. You may though find that your holdings in a particular fund are class T with HL but the new provider oniy has class x or whatever and then you can't and have to sell amd rebuy.
    • jimjames
    • By jimjames 17th Jul 17, 11:59 PM
    • 11,947 Posts
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    jimjames
    • #4
    • 17th Jul 17, 11:59 PM
    • #4
    • 17th Jul 17, 11:59 PM
    Bear in mind that transferring stock with HL will incur a fee per fund. Transfer as cash won't. I think it's £25 each so 10 funds will cost you £250 plus the closure fee
    Remember the saying: if it looks too good to be true it almost certainly is.
    • adonis10
    • By adonis10 19th Jul 17, 1:20 PM
    • 1,387 Posts
    • 148 Thanks
    adonis10
    • #5
    • 19th Jul 17, 1:20 PM
    • #5
    • 19th Jul 17, 1:20 PM
    If you want to retain your ISA status you don't do the transfer at all, you ask the receiving platform to organise the transfer.

    You can go to cash & transfer which is usually quickest... and(but) you'll be out of the market while the transfer is effected and will incur fees to buy back.

    Or you can transfer in specie which will take longer than cash with shares... maybe even longer with funds.
    Originally posted by soulsaver

    yes, I want to retain the ISA status and ideally want to simply transfer the holdings I currently have in VG LS 80 and VG LS 100. They are the only two I hold and the unit price has increased quite a lot since I first purchased so would rather keep what I have as opposed to cashing in and starting again.


    Transfer in specie - do I ask the new or old provider to initiate this process?
    • adonis10
    • By adonis10 19th Jul 17, 1:21 PM
    • 1,387 Posts
    • 148 Thanks
    adonis10
    • #6
    • 19th Jul 17, 1:21 PM
    • #6
    • 19th Jul 17, 1:21 PM
    OP, "it depends".

    Some shares and funds can be transferred as is without being sold (this is called "in specie" as per soulsaver ) others can't.

    It depends on the exact fund. If the provider you are transferring to has the exact same fund available you can. You may though find that your holdings in a particular fund are class T with HL but the new provider oniy has class x or whatever and then you can't and have to sell amd rebuy.
    Originally posted by AnotherJoe
    Vanguard LS 80 and 100 are the two I hold. How would I find out what class they currently are?
    • Eco Miser
    • By Eco Miser 19th Jul 17, 1:32 PM
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    Eco Miser
    • #7
    • 19th Jul 17, 1:32 PM
    • #7
    • 19th Jul 17, 1:32 PM
    yes, I want to retain the ISA status and ideally want to simply transfer the holdings I currently have in VG LS 80 and VG LS 100. They are the only two I hold and the unit price has increased quite a lot since I first purchased so would rather keep what I have as opposed to cashing in and starting again.
    Originally posted by adonis10
    You wouldn't be starting again, you would be starting from where you left off.
    You have to consider which would be cheaper, selling your units, transferring as cash and rebuying units on the new platform, with some time out of the market (which may or may not be beneficial); or paying HL's £25 per fund transfer fee.
    Eco Miser
    Saving money for well over half a century
    • badger09
    • By badger09 19th Jul 17, 3:35 PM
    • 5,112 Posts
    • 4,325 Thanks
    badger09
    • #8
    • 19th Jul 17, 3:35 PM
    • #8
    • 19th Jul 17, 3:35 PM


    Transfer in specie - do I ask the new or old provider to initiate this process?
    Originally posted by adonis10
    Whether you transfer in specie or as cash, you always ask the new ISA provider to arrange the transfer. The same as with transfers from cash ISA to cash ISA, or cash ISA to S&S ISA etc etc
    • soulsaver
    • By soulsaver 20th Jul 17, 1:27 AM
    • 1,327 Posts
    • 444 Thanks
    soulsaver
    • #9
    • 20th Jul 17, 1:27 AM
    • #9
    • 20th Jul 17, 1:27 AM


    Transfer in specie - do I ask the new or old provider to initiate this process?
    Originally posted by adonis10
    New, as stated by all above

    Your process is:
    Decide who the new ISA provider is.
    Phone them for guidance if necessary, but..

    Open a S&S Isa with them.

    Ask them to organise the transfer of your existing ISA investments over.

    They'll tell you what they need you to do - fill in forms to say what you have, who with, account numbers, all or partial etc & how you want them transferred & sign authority etc.

    If there's charges from the current provider you'll need to make sure you cover them to your liking.

    Sit back... it can take a while.
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
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