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  • FIRST POST
    • bundly
    • By bundly 10th Apr 18, 7:50 PM
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    bundly
    Quick HARGREAVES LANSDOWN question
    • #1
    • 10th Apr 18, 7:50 PM
    Quick HARGREAVES LANSDOWN question 10th Apr 18 at 7:50 PM
    I have a stocks and shares ISA and a fund & share account for the overspill.

    I just sold £8k of shares in the FAS a/c and want to invest it in the ISA.

    I've just spent a very frustrating hour on the HL site trying to transfer the money but I just cannot work out how to do it and the helpline is closed. I'd like to sort this out tonight if poss.

    Can anyone talk me through it?
Page 1
    • A_T
    • By A_T 10th Apr 18, 8:06 PM
    • 521 Posts
    • 354 Thanks
    A_T
    • #2
    • 10th Apr 18, 8:06 PM
    • #2
    • 10th Apr 18, 8:06 PM
    The cash from the sale of the shares may take a few days to become available. Check the factsheets for the settlement times it's often 3 days.
    • george4064
    • By george4064 10th Apr 18, 9:15 PM
    • 1,019 Posts
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    george4064
    • #3
    • 10th Apr 18, 9:15 PM
    • #3
    • 10th Apr 18, 9:15 PM
    The cash from the sale of the shares may take a few days to become available. Check the factsheets for the settlement times it's often 3 days.
    Originally posted by A_T
    What A_T said.

    Its probably too late now, but HL (and most other platforms) have a 'Bed & ISA' service. Which is an established system that does the sale/transfer/repurchase for you, and it can save you dealing costs if you your transfer involves any shares/ITs/ETFs.

    For future reference, If I were you I would look into how to utilise the Bed & ISA service available.
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    • bundly
    • By bundly 10th Apr 18, 9:38 PM
    • 967 Posts
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    bundly
    • #4
    • 10th Apr 18, 9:38 PM
    • #4
    • 10th Apr 18, 9:38 PM
    This is the first time I have ever sold shares so bear with me ...

    They were sold via the "Bed & Isa" but I didn't really understand what this meant, the HL guy did it for me over the phone. Today I see the money is in my "cash" account and that is why I tried to transfer it to the ISA so I can buy some shares. Maybe that is all in hand and I don't need to.
    • A_T
    • By A_T 10th Apr 18, 9:40 PM
    • 521 Posts
    • 354 Thanks
    A_T
    • #5
    • 10th Apr 18, 9:40 PM
    • #5
    • 10th Apr 18, 9:40 PM
    This is the first time I have ever sold shares so bear with me ...

    They were sold via the "Bed & Isa" but I didn't really understand what this meant, the HL guy did it for me over the phone. Today I see the money is in my "cash" account and that is why I tried to transfer it to the ISA so I can buy some shares. Maybe that is all in hand and I don't need to.
    Originally posted by bundly
    Yes if you used Bed and ISA you won't need to do anything else. But it still might take a few days.
    • dividendhero
    • By dividendhero 10th Apr 18, 9:58 PM
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    dividendhero
    • #6
    • 10th Apr 18, 9:58 PM
    • #6
    • 10th Apr 18, 9:58 PM
    I'd send HL a message via their website - I've had good experience of using this aspect of the website
    • capital0ne
    • By capital0ne 10th Apr 18, 11:19 PM
    • 533 Posts
    • 260 Thanks
    capital0ne
    • #7
    • 10th Apr 18, 11:19 PM
    • #7
    • 10th Apr 18, 11:19 PM
    This is the first time I have ever sold shares so bear with me ...

    They were sold via the "Bed & Isa" but I didn't really understand what this meant, the HL guy did it for me over the phone. Today I see the money is in my "cash" account and that is why I tried to transfer it to the ISA so I can buy some shares. Maybe that is all in hand and I don't need to.
    Originally posted by bundly
    BED and ISA generally means selling shares outside of an ISA and buying the SAME shares back in the ISA, it's just transfer, but you have to sell and buy back. It's usually cheaper to do it this way, because selling and buying both involve fees, BED and ISA is usually just a single selling or buying fee.

    Also there is another rule, generally you cannot sell and buy back the same share withing 30 days of selling.
    • eskbanker
    • By eskbanker 11th Apr 18, 12:34 AM
    • 7,993 Posts
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    eskbanker
    • #8
    • 11th Apr 18, 12:34 AM
    • #8
    • 11th Apr 18, 12:34 AM
    BED and ISA generally means selling shares outside of an ISA and buying the SAME shares back in the ISA, it's just transfer, but you have to sell and buy back. It's usually cheaper to do it this way, because selling and buying both involve fees, BED and ISA is usually just a single selling or buying fee.

    Also there is another rule, generally you cannot sell and buy back the same share withing 30 days of selling.
    Originally posted by capital0ne
    That 30-day rule doesn't apply to Bed & ISA transactions though, so may cause confusion by being introduced into this thread like that without adequate explanation!

    For anyone interested, see the likes of http://monevator.com/bed-and-breakfasting-and-cgt/, which clarifies:
    Bed and ISA: You can sell a fund or shares outside of an ISA and then put the money you raise into an ISA. Within the ISA you can repurchase exactly the same assets if you want to. The 30-day rule doesnít count with respect to these ISA purchases.
    • grey gym sock
    • By grey gym sock 11th Apr 18, 1:01 AM
    • 4,444 Posts
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    grey gym sock
    • #9
    • 11th Apr 18, 1:01 AM
    • #9
    • 11th Apr 18, 1:01 AM
    BED and ISA generally means selling shares outside of an ISA and buying the SAME shares back in the ISA, it's just transfer, but you have to sell and buy back.
    Originally posted by capital0ne
    HL's "bed & ISA" service gives you a choice of either buying back the same shares in the ISA, or leaving it as cash inside the ISA (to invest however you like).

    That 30-day rule doesn't apply to Bed & ISA transactions
    Originally posted by eskbanker
    right. everything in an ISA is outside the scope of capital gains tax. so a bed-and-ISA is, for the purposes of CGT, just a sale.

    it's also rather sloppily expressed to say "you cannot sell and buy back the same share withing 30 days of selling". when the 30-day rule does apply (which it doesn't here), you can buy within 30 days - it's just that the capital gains tax consequences are different (and perhaps, not what you wanted) if you do.
    • AnotherJoe
    • By AnotherJoe 11th Apr 18, 10:37 AM
    • 10,585 Posts
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    AnotherJoe
    So, I did a B&I on Monday. Its happened but not fully sorted out because it takes a few days for the money to be fully settled. Depending where I am on their website i see different views of the money slightly at odds with each other. They did provide an email stating this, and you would have as well. Here's the main bit with my emphasis.

    Please note, after placing your dealing instructions, even though any repurchase will be made in the HL Vantage Stocks & Shares ISA, the proceeds from your sale will not be moved to your HL Vantage Stocks & Shares ISA until the settlement date of the sale. This could take up to 5 working days during which your HL Vantage Stocks & Shares ISA may show an overdrawn balance and your Vantage Fund & Share Account or Securities Management Account will show a positive balance. Please ensure you do not reinvest funds which are due to be moved to your HL Vantage Stocks & Shares ISA.

    I presume you did a B&I where the money rather than the shares were transferred acdross. So its going to take a few days for the money to arrive in the ISA. In my case the shares arrived quickly but it seems the money hasnt left the share account yet, or soemthing like that, I'm just looking in daily expecting it to equalise by Friday. In your case, the money hasn't arrived yet and may not until Friday or maybe Monday.

    In summary "patience, Grasshopper"
    Last edited by AnotherJoe; 11-04-2018 at 10:39 AM.
    • AnotherJoe
    • By AnotherJoe 12th Apr 18, 9:46 AM
    • 10,585 Posts
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    AnotherJoe
    Just to wrap up what happened from my POV.
    B&I order in on Monday
    Share trade executed Tuesday
    All accounts balanced up Thursday morning.

    Therefore I would expect your accounts to be balanced and the money available to buy within the ISA, either today or tomorrow depending if the shares were actually sold on the 10th (as mine were) or the order to sell went in on 10th.
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