Maxi Isa query

cb101

This may be a daft question so I do apologise if that is the case, but I still hold 500 Northern Rock shares from when they became a bank and was wondering if there is any benefit from, or if you actually can, put these shares as part of a maxi isa.
Sorry again if it is a stupid question.

dunstonh

It would be classed as a sale for CGT purposes and admin costs may apply. Apart from that, you can share exchange them in with most selt select ISAs if you think its worth it.

EdInvestor

No point really if they are the only shares you hold and you don't plan to buy more.

If you are a basic rate taxpayer you pay no tax on the divis. And if you sell the shares you have an annual allowance of almost 9k for CGT before you have to pay that tax.

So for most people the ISA doesn't actually give them any gain with shareholdings, unless they have a very large portfolio or are a higher rate taxpayer -the latter pay 25% tax on the dividend income.

cheerfulcat

cb101 wrote:

This may be a daft question so I do apologise if that is the case, but I still hold 500 Northern Rock shares from when they became a bank and was wondering if there is any benefit from, or if you actually can, put these shares as part of a maxi isa.
Sorry again if it is a stupid question.

You certainly can move them into an ISA; most brokers will offer a sale and repurchase deal. Whether there is any benefit depends on a number of factors which will be personal to you, such as whether you hold or intend to purchase any other stock market based investments and whether you are a higher rate tax payer.

So for most people the ISA doesn't actually give them any gain with shareholdings, unless they have a very large portfolio

Ed, this is not right, unless you think that a portfolio over ~£10,000 - 15,000 is " very large ".

cb101

Thanks for the advice, I guess I'll just keep them as they are