Transfer shares into S&S ISA?

robp

Hello All,

Around a year ago I used an account with Selftrade to buy some shares.

Tesco 159 shares
BP 119 shares
Woolworth 514 shares

OK, Woolworth were a 'joke' buy, after the Mother in-law said they were really good, and I never expected them to go up.

BP are down 20% on buy price, while Tesco are my saviour by being 38% higher (today anyway!).

I'm just wondering now if I can transfer these into a S&S ISA, and what benefit that may give?

As usual, thanks in advance for any help.

Rob

cheerfulcat

Hi, Rob,

Strictly speaking, you can't transfer these shares into an ISA; they must be sold and bought again within the ISA account. But most brokers should offer a deal on the charges involved.

I'm just wondering now if I can transfer these into a S&S ISA, and what benefit that may give?

If you are a basic rate tax payer the answer is, " probably none ", especially if you don't intend to trade a lot or buy larger quantities of shares as any gains are likely to be well inside your annual CGT exemption.

robp

Thanks Cheerfulcat.

I'm higher rate tax payer, but going by your comments, it doesn't sound like there is much point moving them for now.

Rob