Stocks and Shares ISA and CGT

detective_columbo_2

Hello,
I am new to this forum so hello everyone.
I am going to be coming into some shares soon that will exceed my personal CGT allowance. Is it possible to take my shares out of the company sharesave and put them into a Stocks and Shares ISA, selling them immediately, to avoid tax on that portion?

Many thanks,

xylophone

http://www.tddirectinvesting.co.uk/help/faqquestions/how-can-i-transfer-shares-into-my-isa/

"Share Save/Save As You Earn (SAYE)
The only exception to the rules regarding transferring shares into an ISA is if you have shares in a company Share Save/SAYE scheme.
Shares released from these schemes can be transferred directly into an ISA as long as you request the transfer within 90 calendar days of the stock being released from the scheme. If you wish to deposit Share Save/SAYE shares into your ISA please return the following documentation to our address below.
An ISA application form (only required if you do not have an account already)
The share certificate(s)
A completed Crest Transfer Form
Written instructions
The Notice of Exercise*"

Might be relevant?

Vortigern

A similar question was asked yesterday HERE and that thread is worth reading.

Essentially you can:

• Sell some shares to make use of your CGT allowance
• Give some to a spouse or civil partner to make use of their CGT allowance
• Transfer some to a S&S ISA and sell immediately
• Keep the rest till next tax year, or sell and pay the CGT

For example: If you buy shares through a sharesave contract at 60p each and sell in August at £3.60 you will have a gain of £3.00 per share. Your CGT allowance will be £11,000 so you can sell 11000/3=3666 shares without CGT liability. You can give the same number to your spouse, who can then sell without CGT liability. You can transfer £11,880 worth of shares to an ISA. This transfer must be done within 90 days of exercising your option. You can then sell from the ISA without CGT liability.

CGT and ISA allowances above refer to the 2014/15 tax year as I assume the share option will be exercised after April 2014.

Just out of interest: What is the option price for your BT sharesave scheme?

detective_columbo_2

Thanks very much for your answers. It's the one I wanted to hear as well!