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 

xcell

This is old thread but did this work with no tax problems, how long it the transfer take?

needhelp1_2

Sorry to disappoint but I didn't use a flexible ISA in the end. My provider was able to do an 'in specie' transfer of the shares in March 23 into an investment ISA and then a second tranche into the ISA using up the following years allowance. This was done within 90 days. This is within the rules and allowed me to keep most of the SAYE profit as the shares are not sold in the process.