In Specie transfer

ItsForMe2024

Hi. In March my two SAYEs are going to mature. I can't open a stocks and shares ISA until the new tax year as I've maxed out this year's allowance in cash.

I've never transferred shares into an ISA before. They're held with Equiniti. I don't want to use Equiniti to do this.

How do I do an in specie transfer?Do I open up a stocks and shares ISA first from 6th April? And what is the procedure. I'm don't want to sell the shares,.just guard them against CGT if i sell them in the future.

Thankyou

FrugaiMacDugal

I think you can open a new ISA now, as long as you don’t fund it until next tax year.

masonic

It's possible a provider will close an unfunded S&S ISA after a period of time, and there's little benefit to opening now vs closer to the end of the tax year.

Providers will have their own processes for dealing with this. I link the process for AJ Bell below merely as an example:

https://www.ajbell.co.uk/faq/how-do-i-make-saye-or-sip-transfer-aj-bell

If the 90 day time limit leaves you with little time, transferring to a trading account with the desired provider will normally make the subsequent ISA transfer a lot quicker, but check that this two step process won't cause any issues. I don't think this would be relevant in your case.