🗳️ ELECTION 2024: THE MSE LEADERS' DEBATE Got a burning question you want us to ask the party leaders ahead of the general election? Submit your suggestions via this form or post them on our dedicated Forum board where you can see and upvote other users' questions. Please note that the Forum's rules on avoiding general political discussion still apply across all boards.

Sharesave query - Transfer to ISA after leaving company

losinj1 Posts: 12 Forumite
First Anniversary Name Dropper First Post Combo Breaker
edited 26 March 2016 at 1:50AM in Savings & investments
I took a release package offered by my employer in September 2015, and with several sharesave schemes still running I was allowed to continue saving in them for 6 months, and to buy the shares in March. Those shares have just been released to the Nominee account with Equiniti.

Within 90 days of a regular sharesave maturity a scheme member would be able to transfer shares directly into an ISA, free of charge. I was wondering if this option lapsed when I ceased employment. (There's just over one ISA allowance-worth, and just over one year's CGT allowance-worth, in these shares alone. This year's ISA allowance is already used, but not the CGT allowance.)

Ultimately, I want to sell ALL my shares in the Nominee account - ASAP. My total CGT liability looks to be between two and three years' allowances.

If I'm reading the rules correctly, I could (if I get my skates on) use this year's CGT allowance to sell some shares. From 6th April, assuming it is possible to transfer directly to an ISA (within the 90 days) I could do that, and then sell the ISA shares immediately (not liable to CGT); plus, I could sell the remaining shares and without busting my allowance. If a direct ISA transfer is not possible I could simply sell the remaining shares but pay CGT once the allowance has been reached, assuming I don't wait until the following (2017/2018) tax year...?
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 8 Election 2024: The MSE Leaders' Debate
  • 343.9K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 236K Work, Benefits & Business
  • 609.2K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards