Moving stocks and share ISA

bartelbe

At the moment I am with HL but with my increasing investments the fees are looking unattractive. I tend to buy an investment and sit on it long term. So ideally I would like to transfer to a provider like iweb without any annual charges.

I hold shares and tracker funds. Is it just as simply as transferring my existing shares and funds to a different provider or would it involve selling my holdings and rebuying? Do I keep my existing ISA allowance or am I starting from scratch?

Thanks for your help with this.

george4064

I hold shares and tracker funds. Is it just as simply as transferring my existing shares and funds to a different provider or would it involve selling my holdings and rebuying? 

Most platforms will allow reregistration of Fund units from one platform to another, which means you don’t need to sell. However your new platform may not have the same fund available as what you currently hold, so you should check that the investments you hold now are available via your new platform. This is something that will be checked as part of the transfer process, but you can do some research before to help speed up the process. Obviously if your fund(s) is not available at the new platform then you will have to sell and buy something different as part of the transfer.

Do I keep my existing ISA allowance or am I starting from scratch?

Whatever your transfer will maintain its ISA wrapper status, so you won’t use up any further allowance if you transfer from one provider to another.

badger09

george4064 said:

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Do I keep my existing ISA allowance or am I starting from scratch?

Whatever your transfer will maintain its ISA wrapper status, so you won’t use up any further allowance if you transfer from one provider to another.

Providing you use the new ISA provider's transfer process

enthusiasticsaver

You need an "in specie" isa transfer and your new provider should deal with it for you. That way it keeps the ISA wrapper and you should not be out of the market for any length of time.