Moving shares into an ISA account

[Guest Damian SM]

Hello.  I am trying to move shares between a share dealing account and a ISA account.  I have been told that I need to do this by phoning IG.  But they don't answer the phone.  Presumably I can do this myself by selling the shares and transferring the money into the ISA account and re-buying the shares.  There would in this be the charge of selling and buying - would there also be a cost for the transfer between accounts?  There is the obvious risk in this of movement in share value (in either direction) during the process of selling, transferring and buying, but I don't see an alternative if I cannot speak to anyone at IG.  Does anyone have experience of this sort of transaction? 

[CharlotteIG]

On 22/03/2021 at 12:39, Guest Damian SM said:

Hello.  I am trying to move shares between a share dealing account and a ISA account.  I have been told that I need to do this by phoning IG.  But they don't answer the phone.  Presumably I can do this myself by selling the shares and transferring the money into the ISA account and re-buying the shares.  There would in this be the charge of selling and buying - would there also be a cost for the transfer between accounts?  There is the obvious risk in this of movement in share value (in either direction) during the process of selling, transferring and buying, but I don't see an alternative if I cannot speak to anyone at IG.  Does anyone have experience of this sort of transaction? 

Thanks for your post. 

Sorry you haven't been able to get through to us. You can request them via email. 

In order to complete your Bed & ISA, please complete the information required below: 

Bed & ISA process: 

Please ensure the full information is provided
Account number: 
Share name: 
Number of Shares/ Value: 

Note: Bed & ISA's can only be actioned for UK shares only. 
Notification of costs: 
Costing is as follows: 

£40.00 dealing charge per share line. 
£30.00 capped spread charge. 
£2 PTM Levy (For transactions over £10,000 notional)
Stamp Duty 0.5% of notional value (If applicable)

You can make your request by responding to this email. The process may take up to a week to complete due to the volume of calls and emails we're experiencing currently. 

It may be worth putting the subject of the email as 'Bed and ISA' urgent as it's close to the end of the tax year (5th April). 

You are correct though you can sell your shares wait for the funds to settle and buy them back in the ISA but note that you have to pay commission and the markets can move whilst you want for the funds to settle/ transfer. 

All the best