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SAYE shares to ISA help
Name_Unavailable23
Posts: 2 Newbie
Afternoon. Can anyone give me more details on the 90-day window for transferring sharesave shares to ISAs please?
I instructed a transfer on the 11th May (my cut-off date was the 30th May) but have just been emailed by the broker to say they didn't settle into the account by the 30th so won't be processed. Only option now would be a bed & ISA transfer, but that will incur the full CGT.
Wording on this site and .gov just days "you have to make the transfer". Do they have to settle/complete or is my instruction to transfer sufficient?
I instructed a transfer on the 11th May (my cut-off date was the 30th May) but have just been emailed by the broker to say they didn't settle into the account by the 30th so won't be processed. Only option now would be a bed & ISA transfer, but that will incur the full CGT.
Wording on this site and .gov just days "you have to make the transfer". Do they have to settle/complete or is my instruction to transfer sufficient?
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Comments
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Ouch... I don't know the answer for sure but all the documentation I've read talks about the transfer having to be 'done' within 90 days - I'm not sure that an instruction is enough to count as 'done'
Has the broker explained why they couldn't complete this within 19 days? Were they aware of the deadline, or did they have their own timescales set out that you may have missed? Just wondering if they may be at fault here...
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I highly suspect that you're right re: transfer having to be complete. I've emailed expecting an explanation and await the broker's response.0
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