Shares in nominee account - can I move to ISA in new financial year

danensis

The question is in the title - can I just ask my investment company to include shares in my nominee account in an ISA wrapper come the new financial year, or do I have to sell them and buy them back (incurring two lots of trading fees presumably)?

Alexland

Shares can only be transferred into an ISA if they were part of a qualifying workplace scheme.

https://www.gov.uk/guidance/manage-isa-subscriptions-for-your-investors#sub-trans

"Shares can be directly transferred into an ISA (including a Lifetime ISA) if they have been acquired by the investor from a schedule 3 SAYE option scheme or a schedule 2 SIP. Shares cannot be directly transferred into an ISA in any other circumstances."

masonic

Some providers will only charge one set of trading fees if you want to move the shares into an ISA account with the same provider.

Alexland

masonic said:

Some providers will only charge one set of trading fees if you want to move the shares into an ISA account with the same provider.

Surely it would need to be a sale and repurchase rather than a move? With any associated CGT and stamp duty implications?

masonic

Alexland said:

masonic said:

Some providers will only charge one set of trading fees if you want to move the shares into an ISA account with the same provider.

Surely it would need to be a sale and repurchase rather than a move? With any associated CGT and stamp duty implications?

Yes, I was responding to "do I have to sell them and buy them back (incurring two lots of trading fees presumably)?". I was avoiding introducing the term "Bed & ISA" and then have to explain what it means.