Moving a IT to another platform?

TUVOK

Am I correct in believing that I cannot move an IT held in HL Vantage to a Fidelity ISA?

If my assumption is correct? that means that I would have to sell the IT, transfer the sale cash to my bank account and purchase the IT in my Fidelity ISA? 
Can any one confirm that I understand this correctly? 

If I am correct? then I have to pay a HL charge of £11-95 and I believe a charge of £10-00 commission charge at Fidelity plus their transfer fee, which I have not determined as yet.

If correct? a costly business.

george4064

Whenever you transfer assets from outside an ISA into one it must be as cash.

Only transfers from an ISA to another ISA can be done in-specie, in-specie is when the units/shares are transferred without any buying or selling (and hence no trading costs).

Alexland

HL Vantage is the name of the platform which account type do you hold? Also remember there is stamp duty and a market spread on ITs.

TUVOK

Not sure what you mean by account type?
It's a HL Vantage account, basic trading stocks and shares, non ISA,  general type fund as I understand it.

Alexland

TUVOK said:

Not sure what you mean by account type?
It's a HL Vantage account, basic trading stocks and shares, non ISA,  general type fund as I understand it.

OK sounds like you have their Fund & Share account

https://www.hl.co.uk/investment-services/fund-and-share-account

So yes the investment would need to be sold (trade fee), money withdrawn, then contributed to the Fidelity ISA and then purchased again (trade fee, stamp duty, market spread between buy and sell price). If you are lucky the price might have gone down but if unlucky the price might have gone up. Also if it's a large investment don't forget to consider the capital gains position before sale.

TUVOK

Thank you for your full and most helpful reply to my query.
That is what I believed to be the case and I will have to carefully consider the points you have described.