Existing shares into a S&S ISA

Marky_McMarkface

Hi

I have a bunch of shares I have built up over the years through various means. Some were via company share save schemes, some I just bought and so on. Also due to corporate actions, some have split, been moved to other markets (AIM?) and in one case, even ended up being traded on the US stock markets after the company was bought out.

All of these currently sit in an iWeb account doing not much and the total value is perhaps only a couple of grand and at this time I have no plans to sell them

Is it worth, moving these into a S&S ISA so that if I ever do choose to sell later, I will not pay tax on them and if I choose to buy more shares in the future, do so from within that same S&S ISA or does it not really matter?

Woodstok2000

Unless you're within 90 days of acquisition on specific employee share schemes, you cant move shares into an ISA directly. You would need to do what's called 'bed & isa', which is to sell the shares, then invest the proceeds into a s&s ISA and then reinvest in the same shares if you wanted to.

Marky_McMarkface

https://forums.moneysavingexpert.com/discussion/comment/81938364#Comment_81938364

The shares I acquired through company share save were acquired years ago so are no longer part of any company scheme so there is no "lock in" on them. Indeed those are the shares that were then exchanged through a corporate action so are now shares in a totally separate US company

Woodstok2000

https://forums.moneysavingexpert.com/discussion/comment/81938368#Comment_81938368

Ok, so "bed and isa" is your option. Obviously CGT will be payable if applicable once you sell, so you'd need to figure that into your calculation and maybe sell in batches over a few years if needed to use your annual allowances.

Marky_McMarkface

https://forums.moneysavingexpert.com/discussion/comment/81938374#Comment_81938374

I think if I sell, I would not rebuy the same shares. They have all lost most of their value so CGT isn't going to apply (total value is less than £2k).
I only asked because I was looking at a Trading 212 S&S ISA and they mentioned they could transfer existing shares in so wondered if it was worth the bother

Thanks

masonic

https://forums.moneysavingexpert.com/discussion/comment/81938394#Comment_81938394

The main benefit of a provider's Bed & ISA service is that you often get the repurchase done for no trading fee. Since Trading212 doesn't have trading fees, you'd be as well to just sell, deposit the cash, and buy whatever takes your fancy.