MOVING A GIA BETWEEN DIFFERENT PLATFORMS

george20

I want to move my GIA funds from one platform to another ,what is the best way to do this avoiding tax issues /capital gains 

eskbanker

If both platforms support the same funds then you should be able to transfer in specie, i.e. without selling and rebuying, and if that's possible for your particular permutation then there'd be no tax ramifications as there'd be no disposal to trigger CGT.

george20

Thank you v helpful,  would I get a warning before finalising the move, if I tried to make the transfer and CGT  was payable .

eskbanker

george20 said:

Thank you v helpful,  would I get a warning before finalising the move, if I tried to make the transfer and CGT  was payable .

No, the platforms can't be held liable for trying to calculate whether or not there'd be any CGT liability, so you'd need to establish that yourself - you should be able to check with the new platform whether they'd be able to conduct the transfer in specie before committing though....