Share Dealing Discussion Area

Eco_Miser

merlin777 wrote: »

cashing it in and transferring the cash to the other ISA would also use up my ISA allowance - or not be allowed if I've already used it up I would think?

No, provided you have the receiving ISA manager initiate the transfer.
Note transfer is a technical term here, and does not mean taking the cash out of one ISA and paying it into another, it means transferring the ISA (and it's contents) between managers.

merlin777

so the contents of one isa doesn't go into the other - I effectively still have 2 isas but they are both managed by (in my case) interactive investor?

Eco_Miser

Having arrived at the destination manager they will in all probability be merged into one (though I have seen separate ISAs maintained in the past).
The point is, the cash (or shares) remains in a ISA at all times, and is not considered a new subscription.

Biggles

merlin777 wrote: »

I'll ask the question but the last time I checked you couldn't transfers shares from isa to isa - you have to effectively sell them in one and rebuy them in the other, incurring commission and stamp duty.

No, as Eco Miser says, the whole ISA is transferred, there is no sale/purchase of shares and no use of allowance. In other words, it's just a transfer of broker, you stay as the beneficial owner all through the process, that's always been the case.

cloud_dog

merlin777 wrote: »

so the contents of one isa doesn't go into the other - I effectively still have 2 isas but they are both managed by (in my case) interactive investor?

As others have mentioned, you need to think about an ISA Account as a basket which holds 'things' (investments / money).

You could, if you wanted to, make new cash contribution (deposit) to a new ISA provider each year, i.e. year1 Halifax, year2 TD Direct, year3 III, etc, etc.

If you did this over 10 years you would have money (cash) deposited in to 10 separate ISA accounts with 10 different ISA providers. Each of your contributions (deposited money) is attributed against a tax-years allowable subscription (behind the scenes).

If you then chose to transfer 9 of ISA accounts to amalgamate them with a single ISA provider (lets assume III) then, you would transfer the 9 ISA accounts to III and you would end up with one ISA Account with III with ten subscription years associated with your one account.

sabretoothtigger

On Wednesday 14th December we're giving you another opportunity to trade UK stocks at a reduced dealing commission rate of £3.95 per trade placed online for a limited period between 12:15pm and 2:15pm. The same great offer applies to any trades on international stocks between 8am and 9pm.
Remember, TradePlan, UK Stamp Duty and foreign currency conversion charges continue to apply and Fund trades are excluded from the reduced dealing commission offer. If you’d like to trade during this event, you’ll need to pay money into your Share Dealing Account or Stocks and Shares ISA before the event. If you pay money in using your debit card, it will be available to invest immediately.

:money::money:

Artemis21

I have some US shares held in a US online account, and want to transfer some to my partner so that they can be sold tax-efficiently.

The US provider will not open a new account for a non-US resident and so I'm looking for a provider that will hold the shares, sell them when required (probably only a couple of trades per year) and not charge much, either in fees or currency charges. I'm not sure if this should be a US or UK company.

I've had a look at the candidmoney summary but I think that currency charges may be the key and they're not shown. As you may have guessed, I'm new to all this and hold the shares due to a previous employer share scheme.

So, any recommendations for such a platform?

Thanks

sabretoothtigger

If you ask about currency charges you would need to state size of the deal. The charges for Forex are not straight forward.
I much prefer their % approach but the amount of shares I deal is small so % is fine for me, others might be better off finding a proper broker with fixed costs on a large deal it works better

this was mentioned above, looks valid to check through - http://www.candidmoney.com/guides

fuzzgun19

I have what may be a dumb question.

My husband bought 60 Northern Rock shares years and years ago. We since moved house and forgot to change the address with them.

Is it worth doing anything about these shares or are they worth nothing?

gt94sss2

fuzzgun19 wrote: »

I have what may be a dumb question.

My husband bought 60 Northern Rock shares years and years ago. We since moved house and forgot to change the address with them.

Is it worth doing anything about these shares or are they worth nothing?

I am afraid the shares are now worth nothing. The last Labour Government nationalised Northern Rock and (controversially) decided that its shareholders should not receive any compensation.