Quite a complex ISA scenario with foreign SAYE in play.

JBL2000

Hi.

I've been trying to get an answer to a question even my accountant friends are not sure of. To keep it brief and to the point..

I have multiple SAYE schemes with an American Company that all matured in November 2024. I then transferred the SHARES (not the money) from the US appointed holding account to a UK AJ Bell trading account. 

I then proceeded to Bed & ISA the first £20,000. 

As of this moment I have a full 2024 ISA and a similar amount that ideally I would like to put into a 2025 ISA.

The problem.... A colleague has informed me that the way I have done this, as described above will render me liable to CGT as wasn't an "Interstate" transfer. Is that statement correct?

A secondary question.... The 90 day windows to action the shares before falling foul of CGT will expire before the new tax year. Is there any way to mimise this CGT because it wont be able to be put inside an 2025 ISA.

I know its all very complex but no one seems to know!

Any help appreciated.

masonic

The shares need to be transferred into the ISA (i.e not a sale and repurchase) for it not to be a disposal for CGT. Bed & ISA would crystallise any gain you made while outside the ISA.

Without any available ISA allowance, you will not be able to transfer in any of the remaining shares before the expiry of the 90 days.

JBL2000

Thanks Masonic. Not what I was hoping for but hey, we live and learn.

jimjames

JBL2000 said:

I then proceeded to Bed & ISA the first £20,000. 

As of this moment I have a full 2024 ISA and a similar amount that ideally I would like to put into a 2025 ISA.

A secondary question.... The 90 day windows to action the shares before falling foul of CGT will expire before the new tax year. Is there any way to mimise this CGT because it wont be able to be put inside an 2025 ISA.

Is the ISA a flexible one? If so then it might be possible to withdraw the entire £20k from your 2024/5 ISA and transfer  £20k worth of shares into it as replacement for the money taken out. No idea if this is feasible but if you are still within the 90 days then it might be possible. You can then use the £20k cash to add to the ISA in April and buy shares again.

masonic

The AJ Bell S&S ISA isn't flexible.

eskbanker

https://forums.moneysavingexpert.com/discussion/6526980/clarification-needed-on-90-day-saye-shares-to-isa-transfer discusses the above approach, assuming OP's American SAYE scheme complies with HMRC's (UK-oriented) rules sufficiently, in order to allow direct share transfers into the ISA.

Edit: cross-posted, so this is academic now!