Stocks & Shares ISA, How long before I can sell after a transfer/buy back?

Steve_666_

 but if these are all shares of the same company (your employer) then the Inland Revenue won't differentiate. Have a read up on Section 104 holdings. Essentially if you acquired the shares in one company at different times and even via different mechanism e.g. shares from your employer that you contributed to and shares you were given by your employer as remuneration than as far as CGT in the UK is concerned then they're all one homogenous pot of shares that have an "average price" that you need to keep track of yourself.

Is that true if I keep the shares strictly separate, for example, some in an ISA, some in a SIPP, some in a trading account with II, and some in a trading account with HL?

eskbanker

Steve_666_ said:

 but if these are all shares of the same company (your employer) then the Inland Revenue won't differentiate. Have a read up on Section 104 holdings. Essentially if you acquired the shares in one company at different times and even via different mechanism e.g. shares from your employer that you contributed to and shares you were given by your employer as remuneration than as far as CGT in the UK is concerned then they're all one homogenous pot of shares that have an "average price" that you need to keep track of yourself.

Is that true if I keep the shares strictly separate, for example, some in an ISA, some in a SIPP, some in a trading account with II, and some in a trading account with HL?

That would effectively be three separate pots, two in tax wrappers (where CGT is irrelevant) and one comprising the two unwrapped holdings, i.e. you'd need to treat the II and HL ones as a single holding for acquisition cost and CGT purposes.

MoneySavingGerbil

Steve_666_ said:

 but if these are all shares of the same company (your employer) then the Inland Revenue won't differentiate. Have a read up on Section 104 holdings. Essentially if you acquired the shares in one company at different times and even via different mechanism e.g. shares from your employer that you contributed to and shares you were given by your employer as remuneration than as far as CGT in the UK is concerned then they're all one homogenous pot of shares that have an "average price" that you need to keep track of yourself.

Is that true if I keep the shares strictly separate, for example, some in an ISA, some in a SIPP, some in a trading account with II, and some in a trading account with HL?

The ISA and SIPP are automatically excluded as no CGT applies to shares held within SIPP or ISA wrappers. General trading accounts need to be pooled though. So yes, shares held in the same company in general trading accounts with II and with HL would still count as one pool of shares for which you need to keep track of the average share price you acquired them at and use it in CGT calculations when you sell them.

It seems to be one of those things that it's assumed you somehow know about. We only found out when a CGT tax expert gave a talk at my OH's place of work and we realised we'd been calculating it incorrectly.