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'Bed and ISA' and CGT
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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
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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
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Darn it, thought as much! Thanks for the advice0
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