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Do Bed & ISA forms save you money?
I have a Fidelity Investment account and a Fidelity ISA. Next tax year, if I want to move money from the IA to the ISA, then is it beneficial filling in a reasonably lengthy Bed & ISA transfer form or can I just sell my IA investments, transfer the money into the Cash Management account then transfer the money into the ISA and reinvest? I'm guessing the form may save some transactional fees but can't find anything on the Fidelity website to confirm this. Anyone shed any light on this?
Thanks
Comments
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https://help.fidelity.co.uk/site/dealing-and-managing-cash/What-is-a-Bed-ISA suggests that the form is only needed if you don't have the ISA:I wouldn't have thought that the bundled Bed & ISA process would reduce costs as such but it should minimise time out of the market.
What is a Bed & ISA?
A Bed & ISA is a transaction that moves money from your Investment Account to your ISA. A sale of units is made from your Investment Account and a repurchase of units made into your ISA.
If you already hold an ISA and an Investment Account with us, you can complete this instruction online by going to 'Manage Investments' and then 'Bed & ISA' once logged in.
If you already hold an Investment Account, but do not currently hold an ISA with us, you will need to complete a Bed and ISA Form where you can specify what units to sell and then repurchase.
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