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S&S ISA - Rules
wary
Posts: 791 Forumite
I have a share dealing account with First Direct/HSBC (not exactly the best but convenient because of my Offset mortgage account). Because of this, I also have my S&S ISA with them.
It's a long time since I've done this but I believe that the two are linked and that I have to transfer money into my S&S ISA from my main share dealing account in order to purchase shares for my ISA.
Questions are:
1) Instead of transferring cash, can I transfer shares that I have purchased within my main share dealing account to my ISA account, up to the value of £10200 for this tax year?
2) In order not to lose my 2010/11 entitlement, can I still transfer the cash (£10200) into my S&S ISA even if I don't actually purchase any shares until 2011/12?
Thanks
It's a long time since I've done this but I believe that the two are linked and that I have to transfer money into my S&S ISA from my main share dealing account in order to purchase shares for my ISA.
Questions are:
1) Instead of transferring cash, can I transfer shares that I have purchased within my main share dealing account to my ISA account, up to the value of £10200 for this tax year?
2) In order not to lose my 2010/11 entitlement, can I still transfer the cash (£10200) into my S&S ISA even if I don't actually purchase any shares until 2011/12?
Thanks
0
Comments
-
1) No. You'd have to sell then rebuy.
2) Yes. And then on April 6th you can top it another £10,680, then have £21k to "splash out" on shares.0
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