Can I wrap up my shares in a S&S ISA?

Lillie_Munchkin

Hi there

I've been searching for an answer but can't seem to find one. I have some shares, worth about £5000, can I simply 'wrap them up' in a S&S ISA? Everything I read seems to point me in the direction of funds where someone else makes the decision of what to purchase.

Thanks

Lynne

gil13

Yes you can, it's called a self-select ISA, a number of the brokers offer it such as selftrade, there is however usually a fee 30 pm or something.
http://www.selftrade.co.uk/services/personal-dealing/shares-isa.php

dunstonh

Technically it will be a sale and rebuy and therefore a potential CGT chargeable event. However, self select ISAs are available.

Lillie_Munchkin

Thanks for this guys, I'll check it out.

gil13

Just thinking, do you currently hold the shares in a nominee account or paper certificates? If you do then you may have to set up an account with a nominee broker (such as selftrade) and then once that is all sorted, I think you can convert the shares held in your nominee account into a self select ISA. This would avoid you having to sell them and repurchase, a bit long-winded I guess, but there may be other ways so probably best speak to one of the brokers. HTH