Transfer shares directly into Stocks & Shares ISA?

On-the-coast

I have some shares in an international company (in US-dollars - my employer).
I will easily have enough space in my existing (Lloyds) Stocks/Shares ISA in this financial year to be able to place them all there before the end of March.

With the recent announced reductions in Capital Gains Tax to £6k next tax year, and £3k the following year, I am thinking it would be better to move these shares into my ISA to avoid the chance of paying CGT in the future. It's unlikely this would have been a problem if the allowance had stayed at £12+k
note - i also have shares in my company through UK share-save-as you earn (£150pm).  The shares above are over and above what I've saved tax efficiently.

My company share-save broker allows me to "Sell" or "Transfer".  I'd like to transfer as that avoids currency charges (i assume), but i can't see an obvious way of feeding my Lloyds ISA by transferring in Shares (rather than cash).  Before i research that further, is there a general block on transferring in shares to a stocks and shares ISA?  Whether direct from my company provider, or via an intermediate like my standard Lloyds share dealing account?

I know i can sell my holding and transfer in the funds, and that may be more straightforward, but then i will have to carefully calculate my Capital Gains (even though i know they will be no more than £6k), and i will also lose 1% on the sale and currency conversion, 1% on re-buying the shares as i convert back to dollars, and 1% when i come to sell them... (i know... i might choose to buy something that's sterling denominated instead, but I enjoy tracking this small bunch of shares).

Responses gratefully received.

wmb194

On-the-coast said:

I have some shares in an international company (in US-dollars - my employer).
I will easily have enough space in my existing (Lloyds) Stocks/Shares ISA in this financial year to be able to place them all there before the end of March.

With the recent announced reductions in Capital Gains Tax to £6k next tax year, and £3k the following year, I am thinking it would be better to move these shares into my ISA to avoid the chance of paying CGT in the future. It's unlikely this would have been a problem if the allowance had stayed at £12+k
note - i also have shares in my company through UK share-save-as you earn (£150pm).  The shares above are over and above what I've saved tax efficiently.

My company share-save broker allows me to "Sell" or "Transfer".  I'd like to transfer as that avoids currency charges (i assume), but i can't see an obvious way of feeding my Lloyds ISA by transferring in Shares (rather than cash).  Before i research that further, is there a general block on transferring in shares to a stocks and shares ISA?  Whether direct from my company provider, or via an intermediate like my standard Lloyds share dealing account?

I know i can sell my holding and transfer in the funds, and that may be more straightforward, but then i will have to carefully calculate my Capital Gains (even though i know they will be no more than £6k), and i will also lose 1% on the sale and currency conversion, 1% on re-buying the shares as i convert back to dollars, and 1% when i come to sell them... (i know... i might choose to buy something that's sterling denominated instead, but I enjoy tracking this small bunch of shares).

Responses gratefully received.

No. With the exception of employee share schemes, shares held outside an Isa wrapper have to be sold and then repurchased within the Isa. This is often referred to as 'bed and Isa.'

https://www.gov.uk/individual-savings-accounts/how-isas-work

On-the-coast

that’s very comprehensive. 

Thanks.