Share save - move money into ISA

housebuyer143

Can anyone advise how I go about this? 
I understand that I must buy the shares and hold them and I will be sent a letter detailing my share holdings. How do I get them into a stocks and shares ISA from here? 

I was kind of hoping to get them into AJ Bell as already have an account there but I have no idea if this is possible.

Any advice or recommendations of somewhere that will accept shares in from a share save. I don't want to pay capital gains so want to get it into the ISA within 90 days.

Brie

Easiest thing to do frankly is to either take the cash from the share save (if the price has dropped and you wouldn't make a profit) OR buy at the option price and sell immediately (if the price has gone up and you would make money).  And then transfer the money to the ISA and buy shares.  

Frankly because my shares haven't gone up significantly I have left them with the company holding them until such time as I want to sell rather than move them anywhere.  An ISA won't do anything helpful for me as I don't need the tax savings.  And leaving them means I'm not paying any fees.

housebuyer143

Brie said:

Easiest thing to do frankly is to either take the cash from the share save (if the price has dropped and you wouldn't make a profit) OR buy at the option price and sell immediately (if the price has gone up and you would make money).  And then transfer the money to the ISA and buy shares.  

Frankly because my shares haven't gone up significantly I have left them with the company holding them until such time as I want to sell rather than move them anywhere.  An ISA won't do anything helpful for me as I don't need the tax savings.  And leaving them means I'm not paying any fees.

I can't do this because I am due to make £15k profit so an facing a £900 bill. 

My scheme allows us to choose how much to retain and the plan is to keep anything over the CGT allowance, transfer to spouse and then him sell them immediately from the ISA. If I buy and sell them all immediately I will have to pay CGT but if I move it into the ISA it's tax free.  I just don't know how to do this. 

artyboy

housebuyer143 said:

Brie said:

Easiest thing to do frankly is to either take the cash from the share save (if the price has dropped and you wouldn't make a profit) OR buy at the option price and sell immediately (if the price has gone up and you would make money).  And then transfer the money to the ISA and buy shares.  

Frankly because my shares haven't gone up significantly I have left them with the company holding them until such time as I want to sell rather than move them anywhere.  An ISA won't do anything helpful for me as I don't need the tax savings.  And leaving them means I'm not paying any fees.

I can't do this because I am due to make £15k profit so an facing a £900 bill. 

My scheme allows us to choose how much to retain and the plan is to keep anything over the CGT allowance, transfer to spouse and then him sell them immediately from the ISA. If I buy and sell them all immediately I will have to pay CGT but if I move it into the ISA it's tax free.  I just don't know how to do this. 

The short answer is you should talk to both your intended S&S ISA provider, and the Sharesave administrator.

You need to talk to the ISA provider to ensure they will accept in a Sharesave xfr, and you need to talk to the administrator to ask what the mechanics of requesting that transfer are.

In my case, I'll be transferring in to an Interactive Investor ISA from a scheme administered by Computershare (on their EquateMobile platform). When the scheme matures, EquateMobile will give me a notification/task where I can exercise the option and transfer the shares. Whereas II have confirmed they will accept the shares in, but I will need to get a Letter of Appropriation from Equate to confirm they are from a Sharesave scheme.

The added value of II to me is that as my shares likely be worth over £40k, they will take the lot, put as much as possible into my ISA, and then the balance will go into my GIA, very clean...

Your scheme and ISA provider may handle it differently - so ask them.

housebuyer143

artyboy said:

housebuyer143 said:

Brie said:

Easiest thing to do frankly is to either take the cash from the share save (if the price has dropped and you wouldn't make a profit) OR buy at the option price and sell immediately (if the price has gone up and you would make money).  And then transfer the money to the ISA and buy shares.  

Frankly because my shares haven't gone up significantly I have left them with the company holding them until such time as I want to sell rather than move them anywhere.  An ISA won't do anything helpful for me as I don't need the tax savings.  And leaving them means I'm not paying any fees.

I can't do this because I am due to make £15k profit so an facing a £900 bill. 

My scheme allows us to choose how much to retain and the plan is to keep anything over the CGT allowance, transfer to spouse and then him sell them immediately from the ISA. If I buy and sell them all immediately I will have to pay CGT but if I move it into the ISA it's tax free.  I just don't know how to do this. 

The short answer is you should talk to both your intended S&S ISA provider, and the Sharesave administrator.

You need to talk to the ISA provider to ensure they will accept in a Sharesave xfr, and you need to talk to the administrator to ask what the mechanics of requesting that transfer are.

In my case, I'll be transferring in to an Interactive Investor ISA from a scheme administered by Computershare (on their EquateMobile platform). When the scheme matures, EquateMobile will give me a notification/task where I can exercise the option and transfer the shares. Whereas II have confirmed they will accept the shares in, but I will need to get a Letter of Appropriation from Equate to confirm they are from a Sharesave scheme.

The added value of II to me is that as my shares likely be worth over £40k, they will take the lot, put as much as possible into my ISA, and then the balance will go into my GIA, very clean...

Your scheme and ISA provider may handle it differently - so ask them.

That's really helpful thank you. My employer did mention a letter of acquisition so it does sound similar but I'll call the scheme provider. Can I ask who you are moving the shares to? 

wmb194

housebuyer143 said:

artyboy said:

housebuyer143 said:

Brie said:

Easiest thing to do frankly is to either take the cash from the share save (if the price has dropped and you wouldn't make a profit) OR buy at the option price and sell immediately (if the price has gone up and you would make money).  And then transfer the money to the ISA and buy shares.  

Frankly because my shares haven't gone up significantly I have left them with the company holding them until such time as I want to sell rather than move them anywhere.  An ISA won't do anything helpful for me as I don't need the tax savings.  And leaving them means I'm not paying any fees.

I can't do this because I am due to make £15k profit so an facing a £900 bill. 

My scheme allows us to choose how much to retain and the plan is to keep anything over the CGT allowance, transfer to spouse and then him sell them immediately from the ISA. If I buy and sell them all immediately I will have to pay CGT but if I move it into the ISA it's tax free.  I just don't know how to do this. 

The short answer is you should talk to both your intended S&S ISA provider, and the Sharesave administrator.

You need to talk to the ISA provider to ensure they will accept in a Sharesave xfr, and you need to talk to the administrator to ask what the mechanics of requesting that transfer are.

In my case, I'll be transferring in to an Interactive Investor ISA from a scheme administered by Computershare (on their EquateMobile platform). When the scheme matures, EquateMobile will give me a notification/task where I can exercise the option and transfer the shares. Whereas II have confirmed they will accept the shares in, but I will need to get a Letter of Appropriation from Equate to confirm they are from a Sharesave scheme.

The added value of II to me is that as my shares likely be worth over £40k, they will take the lot, put as much as possible into my ISA, and then the balance will go into my GIA, very clean...

Your scheme and ISA provider may handle it differently - so ask them.

That's really helpful thank you. My employer did mention a letter of acquisition so it does sound similar but I'll call the scheme provider. Can I ask who you are moving the shares to? 

It's stated in the reply: Interactive Investor.

housebuyer143

wmb194 said:

housebuyer143 said:

artyboy said:

housebuyer143 said:

Brie said:

Easiest thing to do frankly is to either take the cash from the share save (if the price has dropped and you wouldn't make a profit) OR buy at the option price and sell immediately (if the price has gone up and you would make money).  And then transfer the money to the ISA and buy shares.  

Frankly because my shares haven't gone up significantly I have left them with the company holding them until such time as I want to sell rather than move them anywhere.  An ISA won't do anything helpful for me as I don't need the tax savings.  And leaving them means I'm not paying any fees.

I can't do this because I am due to make £15k profit so an facing a £900 bill. 

My scheme allows us to choose how much to retain and the plan is to keep anything over the CGT allowance, transfer to spouse and then him sell them immediately from the ISA. If I buy and sell them all immediately I will have to pay CGT but if I move it into the ISA it's tax free.  I just don't know how to do this. 

The short answer is you should talk to both your intended S&S ISA provider, and the Sharesave administrator.

You need to talk to the ISA provider to ensure they will accept in a Sharesave xfr, and you need to talk to the administrator to ask what the mechanics of requesting that transfer are.

In my case, I'll be transferring in to an Interactive Investor ISA from a scheme administered by Computershare (on their EquateMobile platform). When the scheme matures, EquateMobile will give me a notification/task where I can exercise the option and transfer the shares. Whereas II have confirmed they will accept the shares in, but I will need to get a Letter of Appropriation from Equate to confirm they are from a Sharesave scheme.

The added value of II to me is that as my shares likely be worth over £40k, they will take the lot, put as much as possible into my ISA, and then the balance will go into my GIA, very clean...

Your scheme and ISA provider may handle it differently - so ask them.

That's really helpful thank you. My employer did mention a letter of acquisition so it does sound similar but I'll call the scheme provider. Can I ask who you are moving the shares to? 

It's stated in the reply: Interactive Investor.

Ah okay, I wasn't sure if that was like a name of a product 👍

housebuyer143

@artyboy

I have called interactive investor who are talking about doing a bed and isa to get the shares into the ISA from the share save.
Is this correct? I have read that CGT might be due when you do this as you are selling and then rebuying them in the ISA but are these shares exempt because they come from SAYE and have that 90 day window to move them? 

artyboy

housebuyer143 said:

@artyboy

I have called interactive investor who are talking about doing a bed and isa to get the shares into the ISA from the share save.
Is this correct? I have read that CGT might be due when you do this as you are selling and then rebuying them in the ISA but are these shares exempt because they come from SAYE and have that 90 day window to move them? 

I think you probably need to talk to them again and ask for someone that knows how this is supposed to work!

Bed and ISA is a different thing entirely - you need to transfer the shares in directly with no sale and repurchase, because that would trigger a CGT liability. It's a very specific rule for sharesave (and SIP) schemes, and (I believe) is the only time you can directly transfer shares into an ISA.

housebuyer143

artyboy said:

housebuyer143 said:

@artyboy

I have called interactive investor who are talking about doing a bed and isa to get the shares into the ISA from the share save.
Is this correct? I have read that CGT might be due when you do this as you are selling and then rebuying them in the ISA but are these shares exempt because they come from SAYE and have that 90 day window to move them? 

I think you probably need to talk to them again and ask for someone that knows how this is supposed to work!

Bed and ISA is a different thing entirely - you need to transfer the shares in directly with no sale and repurchase, because that would trigger a CGT liability. It's a very specific rule for sharesave (and SIP) schemes, and (I believe) is the only time you can directly transfer shares into an ISA.

I called them again and this time got someone who knows what they are talking about! 
Seems straight forward so I will arrange this with them and get it all moved. Thanks