Transfer SAYE shares to Flexible Investment ISA

needhelp1_2

Hello,

I would like to check my understanding is correct please.

My SAYE has just completed and I am about to exercise my options. I will make a gain over the GC tax allowance and so I would like to transfer the shares into my Investment ISA this tax year. I have £16k allowance currently available.

My Investment ISA with Barclays is Flexible and I am therefore allowed to remove funds and replace them during the tax year so long as I remain with the £20k total at the end of the tax year.

I therefore plan to transfer £16k worth of SAYE shares to my IISA, withdraw them as cash and then transfer another £16k worth. This will mean that I am not liable for GC tax. 

Please can someone knowledgeable confirm that my thinking is correct? Much appreciated.

xylophone

https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa#:~:text=You must transfer your shares,information on how to transfer.

Have you checked with Barclays as to whether a transfer will be accepted?

needhelp1_2

Yes Barclays will accept the saye share transfer so that’s good. Thanks for the link! 

eskbanker

needhelp1_2 said:

Yes Barclays will accept the saye share transfer so that’s good.

Have they confirmed that they're happy to receive more than £20K worth, over two separate transfers?

needhelp1_2

Yes, but I will check again before I begin the process. 

PP1984

needhelp1_2 said:

Yes, but I will check again before I begin the process. 

needhelp1_2 Did you get a final answer from them? I'm looking at maybe doing the same thing.  If you've already tried it, then any feedback much appreciated