• The forum upgrades are now largely complete.
    Please read this thread for more details.
    New user registrations are currently disabled.

Stocks n Shares ISA


arthursboy said:
Thankyou 👍
Click to expand...

You're welcome. Couple of things to note, and I don't know how much you have but let's say it is £60k.

- You can transfer £20k of shares into the Flexible S&S ISA. Sell the shares in there, remove the cash and your allowance goes back to the £20k. Repeat another twice and you've got all the cash free of capital gains tax
- That link is just one example, your employer scheme and their partner ISA provider may or may not make it easy to do the above
- For it to be eligible for the CGT exemption, you've only got 90 days to achieve that. Which can be tricky if you've got a lot to get through and the scheme takes its time to process the transfers.
 
Edinburgh Black Cat said:
You're welcome. Couple of things to note, and I don't know how much you have but let's say it is £60k.

- You can transfer £20k of shares into the Flexible S&S ISA. Sell the shares in there, remove the cash and your allowance goes back to the £20k. Repeat another twice and you've got all the cash free of capital gains tax
- That link is just one example, your employer scheme and their partner ISA provider may or may not make it easy to do the above
- For it to be eligible for the CGT exemption, you've only got 90 days to achieve that. Which can be tricky if you've got a lot to get through and the scheme takes its time to process the transfers.
Click to expand...
Yeah that’s what one other person was hoping to do also, but thought it seemed too good to be true.
To achieve the returns I had to purchase around £20k of shares so these will be tax free anyway but assume they need to be lumped together and processed as you described?
The 90 days is summit I wasn’t aware of so these will be time line is critical
Great advice thanks
 
arthursboy said:
Yeah that’s what one other person was hoping to do also, but thought it seemed too good to be true.
To achieve the returns I had to purchase around £20k of shares so these will be tax free anyway but assume they need to be lumped together and processed as you described?
The 90 days is summit I wasn’t aware of so these will be time line is critical
Great advice thanks
Click to expand...


I'm not sure what you mean here, can you rephrase?
 
arthursboy said:
Sorry
I purchased using £18k of my own money so this should not be taxable
The profits exceed £60k which will have to be pushed through the ISA
Only the gains need to be processed through the ISA ?
Does that make sense ?
Click to expand...
But theres a 20k limit per year to push thro isa before being taxed or am i turtley wrang?
 
arthursboy said:
Sorry
I purchased using £18k of my own money so this should not be taxable
The profits exceed £60k which will have to be pushed through the ISA
Only the gains need to be processed through the ISA ?
Does that make sense ?
Click to expand...

All the shares need to go through the ISA because the gain is spread across all shares, so you'd need to repeat the process 4 times e.g. £19.5k each time.
The Butcher said:
But theres a 20k limit per year to push thro isa before being taxed or am i turtley wrang?
Click to expand...

The key is that it needs to be a flexible ISA. If it isn't flexible then you're limited to £20k.

With a flexible one you're still limited to £20k at a time but you can put £20k of shares in (which reduces your limit to £0), sell the shares in the ISA, remove the £20k cash (which increases your remaining limit to £20k again).

Then repeat as many times as you like within 90 days.
 
Last edited:
arthursboy said:
Anyone got any recommendations for independent financial advisor in the Sunderland area please ?
I’ve asked the question on here about a SAYE shares from a company I work for has returned far in excess of what I expected and let’s be honest it’s how I get the max return paying the smallest amount of tax.
Got some really good advice for a couple of people but because of the returns it adds problems, nice ones to be fair.
It’s all very confusing and the answers seem to be with an ISA stock and shares or a flex ISA.
So I’d rather pay someone who knows the answer and I don’t get HMRC on my back later on requesting payments I should have made.
Click to expand...

May vary depending on who you hold your ISA with, but usually I just need to get a Letter of Appropriation from the Company Scheme to prove they were SAYE shares, complete a transfer form (CREST was required at one point) with my Shares ISA provider, send it off. Job done.

Has to be done within 90 days of the end of the SAYE scheme though. And the value of the shares is not what you bought then for, but the value at the time. So if you have made a whacking great profit, the £20k will be taken up in all likelihood (other posters have already mentioned ways of dealing with this).
 
Ned Land said:
Apparently due to a lower £££ and probable interest rate cuts.

The financial world is nuts at times. Average Joe and Joanne can only try to cover as many bases as possible.
Click to expand...

Plus the UK market is predominately pharma, banking and oil - businesses which actually make money. The US is too currently tech dominated
 
You must log in or register to reply here.
Back
Top