Share save maturing April 24 - transfer to ISA?

MadRobot

Hi, newbie here!

As per the title, my company share save scheme matures April next year, just in time for the reduction of capital gains allowance Based on the current share price I'm looking at a gain of around £9k.
I know I can transfer the shares into a stocks and shares ISA which is then free from capital gains tax - bit only if the provider allows it. I've tried to google this aspect, but can't seem to find any confirmation as to who does actually allow this. Has anyone done this before? What provider did you use and was it straight forward?

Many thanks 

Andreg

I know HSBC Investdirect ISA will accept transfer of Sharesave shares.  I guess other ISA providers will also.  But you will also need to check whether your sharesave administrator allows it - try looking in their website FAQs.

You can only transfer £20k value of shares into an ISA in each tax year, if you have not already subscribed to an ISA.  So potentially you could transfer up to £40k: £20k before 5 April and another £20k after 6 April.

35har1old

Andreg said:

I know HSBC Investdirect ISA will accept transfer of Sharesave shares.  I guess other ISA providers will also.  But you will also need to check whether your sharesave administrator allows it - try looking in their website FAQs.

You can only transfer £20k value of shares into an ISA in each tax year, if you have not already subscribed to an ISA.  So potentially you could transfer up to £40k: £20k before 5 April and another £20k after 6 April.

MadRobot said:

Hi, newbie here!

As per the title, my company share save scheme matures April next year, just in time for the reduction of capital gains allowance Based on the current share price I'm looking at a gain of around £9k.
I know I can transfer the shares into a stocks and shares ISA which is then free from capital gains tax - bit only if the provider allows it. I've tried to google this aspect, but can't seem to find any confirmation as to who does actually allow this. Has anyone done this before? What provider did you use and was it straight forward?

Many thanks 

You don't have to sell all at the one time
You have 90 days to transfer

nobody999

Yes you can, up to the ISA limits. The shares need to be approved for sharesave by the tax man.

I did this when I retired at the beginning of the year, mine were foriegn shares (but approved) and I know some of my colleagues had been unable to find anyone (can't have looked that hard) who would accept the transfer and then put into an ISA.

I used Hargreaves simply because I had a share account with them already and they were super helpful on the phone and happy to transfer into 2 ISAs, one in Jan and one in April, just within the 90 days. 

This isn't an advert for HL btw, I'm sure most of the big ones will do it as well, just my own experience

kjs31

My Sharesave matures on 1st January and my ISA is with Halifax which definitely allows it. Mine will be over 20k so I’m going to transfer 20k into my ISA in January and sell the shares (and reinvest them within my ISA), then transfer the rest in the next tax year (I’m going to delay my instruction for a couple of weeks so that the start of the next tax year is within the 90 days allowed to do the transfer). 

My employer provided a ton of links and documents to explain the timeline, the choices so make and CGT so it may be that your employer will do that in the new year.