Computershare queries and can I put shares held through them into an ISA or move them to an ISA?

gavronix

Hello,

Through a long career in commercial insurance, I steadily amassed a substantial number of shares of the company I worked for, and these have been held and are held by the registrar, Computershare.

None of the shares are in an ISA, so are not protected from capital gains or dividends tax, so cash from any dividends is just paid into my standard current account.

I know I am free to sell any or all of these shares through Computershare, but, the thing I am confused about is: how could I (gradually) put them into an ISA and making use of the annual £20,000 limit?

Am I right in thinking this is simply not possible with Computershare?  In which case: how can I do it?

I'd really prefer not to have to sell them (through Computershare) and then have to buy them again (through whoever).  But: is selling them and then buying them again through a Stocks and Shares ISA the only way of doing this?

As I said, I find all of this confusing, so I'd appreciate any helpful advice or insight from fellow users of the Forum.

Thank you so much.

G.

eskbanker

Other than certain sharesave schemes, it isn't possible to move shares directly into an ISA, so they do need to be sold (outside the ISA), the proceeds paid into the ISA  and then the shares repurchased within it.

wmb194

gavronix said:

Hello,

Through a long career in commercial insurance, I steadily amassed a substantial number of shares of the company I worked for, and these have been held and are held by the registrar, Computershare.

None of the shares are in an ISA, so are not protected from capital gains or dividends tax, so cash from any dividends is just paid into my standard current account.

I know I am free to sell any or all of these shares through Computershare, but, the thing I am confused about is: how could I (gradually) put them into an ISA and making use of the annual £20,000 limit?

Am I right in thinking this is simply not possible with Computershare?  In which case: how can I do it?

I'd really prefer not to have to sell them (through Computershare) and then have to buy them again (through whoever).  But: is selling them and then buying them again through a Stocks and Shares ISA the only way of doing this?

As I said, I find all of this confusing, so I'd appreciate any helpful advice or insight from fellow users of the Forum.

Thank you so much.

G.

You don’t have to use Computershare, you can transfer your shares to another broker and ‘Bed and Isa’ them there. If you have certificates you can lodge them with some brokers e.g., iWeb (ultimately Lloyds Bank) and X-O.

Beddie

Yes, you have to sell, then buy back in an ISA. CGT will be payable on gains over £3000 this tax year.

Maybe consider buying funds, instead of having only one company's shares, to reduce risk.

jonnyb

I am looking at something similar, for a sharesave which matures in just under 1 year. On a recent internal discussion, a colleague said he had done exactly this, transferring shares to an ISA without having to sell.
He said it required a few calls with computershare.
And gov.uk advice suggests it may be possible.
https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa

wmb194

jonnyb said:

I am looking at something similar, for a sharesave which matures in just under 1 year. On a recent internal discussion, a colleague said he had done exactly this, transferring shares to an ISA without having to sell.
He said it required a few calls with computershare.
And gov.uk advice suggests it may be possible.
https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa

Sharesave schemes have special rules that allow it within a certain window. The OP didn't mention sharesave.