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transfer securities from my share dealing to my ISA account


Guest Dirk

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this is possible through something referred to as a Bed and ISA

 

What is Bed and ISA
For those who aren't aware, an Individual Savings Accounts (ISAs) shelters your investments from Capital Gains Tax and further tax on dividends. The idea behind a BED & ISA is simple, as a client you can sell your non-ISA investments and then use the proceeds to buy them back immediately within an ISA, meaning the assets are in a more tax efficient wrapper. HMRC do not allow the movement of shares into an ISA, so they need to be sold and the cash transferred to the ISA before they can be repurchased. 

Costs of a Bed and ISA
We charge £40 on the sale of shares, but no cost on the repurchase. There may be PTM Levy of £1 to pay on both sides of the trade, depending on the share and the consideration of the trade. There will be a spread charged but no more than £30 - £50, and depending on the share, you may need to pay Stamp Duty on the repurchase within their ISA.

Process
This needs to be done over the phone, however we are currently looking at ways to automate the process. Please give us a call and ask to speak to one of our sales traders. 

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