CGT sale which do I sell

flopsy1973

HL have received the transfer and told me if I deal it will cancel the transfer so do I hope it will all be done before end tax year to allow enough time to sell on CS or do the deal on HL and restart the transfer. Anyone done transfer with these before?

So I can't sell the LF fund so will have to ignore that losd so selling the other stuff and about £1200 value of Barc should take me up to the CGT limit?

How can HL donate what's left of my holding of the LF fund but yet they can't somehow get that value back to me? So not sure what to do with this

DRS1

Is the transfer to CS designed to take advantage of some cashback deal? If you cancelled the transfer would you lose that deal?

I haven't done any up to date sums but I am thinking that you should work out the net gain on selling the Troy Fund and DT then subtract that from £3000 to give you the amount of gain you can make selling the Barclays shares. Then I think you divide that figure by the total gain on the Barclays shares and multiply it by the total value of the Barclays shares to give a value to sell. Then divide that by the sell price for the Barclays shares to get a number of shares to sell. It may not be spot on because of commission on the sales.

If you do this after the transfer make sure you have access to the HL info on what you paid for the shares and the fund. That may not be an issue if you have to leave the LF one behind in HL so the GIA stays open. But if everything goes over you may want to download everything you can think of (contract notes the summary you snapshot etc) before the GIA is closed.

I don't know the answer to your question about the LF fund but the shares typically given to charity are worthless so there is no value which could be "got back to you".

flopsy1973

I could not stop the transfer in time to CS. My ISA is still with HL so how can I bed and isa to another provider, some of the barc shares up to my CGT limit after selling the other holdings too ?

It's going to take quite a few years to bed and isa this holding to avoid tax? I presume whatever my amount I transfer to the isa will reduce my contribution amount this year ?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81917352#Comment_81917352

You can't Bed & ISA to another provider as such - the term is simply used as shorthand for selling unwrapped investments and then buying them back again within a tax wrapper, and if both activities are carried by the same provider then they can bundle them together for administrative simplicity. However, if you have an interim step of moving the proceeds from one provider to another, in between selling and rebuying, then no such bundling can happen and you're just left with two essentially independent transactions, or three if you include the movement of money between the providers.

And yes, the process involves depositing cash into a S&S ISA as new money, which therefore counts towards your current year ISA contribution allowance.

DRS1

If you are worried about the time it would take to move the money from CS to HL (and the price movement in the meantime) do you happen to have the relevant amount freely available elsewhere? If so you could fund the ISA with that money to buy the new shares in the ISA while at the same time selling the old shares in CS. Then withdraw the proceeds of the sale from CS to make good wherever it was you got the money from.

One thought do CS allow you to withdraw money immediately after you have sold shares? Or do they make you wait until the trade is settled?

flopsy1973

Wasn't sure how or if this would work but by sound of it I can't my original plan maybe easier to bed and isa with CS and forget about the ISA with HL surely this will avoid 2 lots of buying and selling fees too ?

Also include the loss allowance DT shares when I work out my calculations?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81917525#Comment_81917525

Not sure I'm following your first sentence, which would benefit from some punctuating to be honest, but dealing fees are presumably pretty marginal anyway and could easily be outweighed by price movements while out of the market, although I'm not clear on exactly which alternatives you're now considering.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81917525#Comment_81917525

You might want to ask CS if you will avoid two lots of fees with a bed and ISA. I couldn't see that their website said so but I didn't look very hard. I am pretty sure it is true with others though.

Yes if you want to use up as much of the £3k allowance as you can it would be best to sell the DT shares and calculate the loss arising on that sale - maybe do it before you sell the Barclays shares given that DT is traded in a foreign currency.

Rollinghome

And then I think it worthwhile to give more attention to the gains from that chunky Barclays holding. Don't know how it fits alongside your investments elsewhere, but it's 10x the size of all the other holdings in that account put together. All the banks have had a roaring run over the past two years and with the current stingy CGT allowance you'd have a hefty bill if you wanted out in a hurry.

flopsy1973

https://forums.moneysavingexpert.com/discussion/comment/81917639#Comment_81917639

Iv had them since the Financial crisis in 2008 its about 6% of my Investments. . Ideally they need to be in isa maybe take some of the profits but then I need to find a home for the proceeds