Moving SAYE shares to Stocks and shares Isa

Hi
I want to move the shares from a mature company scheme to an ISA, the time is still within the 90 days allowed, they matured in September
When I do the calculation the amount is a couple of hundred pounds over the ISA allowance.
Can someone advise on what happens in this situation please, can I advise the ISA company how many shares I want to be transferred, will they deal with the excess somehow.
Once they are in the ISA I do not think I will be holding onto them for very long, I am looking at iWeb and AJ Bell, currently leaning toward iWeb, is this a good choice?


Comments

  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    edited 9 November 2020 at 8:23PM
    If you are not going to hold them very long why do you want to transfer to the ISA? Holding shares is a medium to long term activity. Both AJ Bell and iWeb are competent and as you can see on the 90 day iWeb form part 3 there is an option to either transfer a specific number of shares or as many as possible up to the allowance (or up to a specific value if for example you have a reduced remaining allowance as you have contributed to another type of ISA):

  • Simp21
    Simp21 Posts: 14 Forumite
    Part of the Furniture First Post Combo Breaker
    Thank you for the response. 
    The need for the ISA is due to lack of CGT allowance left and circumstances, if things change I will probably leave them there.
    Thanks for pointing me in the right direction, I think the form I actually need is the one for certificate transfer, looking at the form it looks like I need to put 20k in the value of shares and tick one of the options in instructions for remaining shares
    https://www.iweb-sharedealing.co.uk/assets/isa90daysharecerttransfer.pdf
    When the shares are sold, can the funds be moved to a cash ISA like an 'in year' cash ISA to cash ISA transfer where you can move the whole amount to a new provider if a new isa is opened in the same year or will I need to withdraw the money and lose the tax free status. I've read a few things around the internet and not sure after reading them.
    Thanks





  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Aah yes didn't know you had them in certificate format. When opening an iWeb ISA you also end up with a general investment account and yes that form gives you the option of putting in the rest in that account. If you are going to transfer the full £20k into the S&S ISA then I assume you have not and will not make any other ISA contributions during the tax year. Once you have sold the shares to cash then yes you should be fine to transfer to a Cash ISA if that's what you really want but the rates are dire.
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