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putting shares into an ISA wrapper

livingseaside · 2013-09-17 18:31:22

Sorry if this is a silly question but I have some IBM shares which I would like to put into an ISA wrapper so that the interest is protected from being taxed. Struggling to understand how to do this - do I open a s&s isa and ask company to transfer them over? Thank you

Comments

Nick_C Posts: 7,622 Forumite

18 September 2013 at 11:09AM

If you hold foreign shares outside an ISA, you have to complete a UK tax self assessment form each year. Putting them in an ISA avoids that hassle.

If you fall into the 40% tax threshold, you should definitely use an ISA to avoid paying additional tax on your dividends.

If you have a substantial portfolio, holding shares in an ISA can keep you out of the 40% tax bracket.

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