We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
'Bed and ISA' and CGT
henners999
Posts: 2 Newbie
in Cutting tax
Hi All,
A quick and easy question (I hope) :-
I've got some shares to sell in an American company, more than my Capital Gains for this year. Is it legitimate to transfer £15k or these shares straight into a Stocks and Shares ISA by using the :beer:'Bed and ISA' method, and then to sell a day later without incurring any Capital Gains Tax?
Many thanks
A quick and easy question (I hope) :-
I've got some shares to sell in an American company, more than my Capital Gains for this year. Is it legitimate to transfer £15k or these shares straight into a Stocks and Shares ISA by using the :beer:'Bed and ISA' method, and then to sell a day later without incurring any Capital Gains Tax?
Many thanks
0
Comments
-
Afraid it does not work like that, the shares can't be transfered into an ISA they have to be sold then repurchased within the ISA, so unless you need the cash urgently split the share sale over more than one financial year to take full advantage of your allowances.0
-
Darn it, thought as much! Thanks for the advice0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards