Not sure if this has been asked. Does a ‘Bed & ISA’ count towards my annual ISA limits? If I had invested the full 20000 into my ISA account, can I still do the ‘Bed & ISA’ in the same tax year?
No you can’t. The ISA part of “Bed and ISA” is your annual ISA subscription.
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So am looking t upgrading to Plus so will get an ISA. Can I transfer my investments in my GIA into the ISA ?
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No you will need to sell and rebuy.
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@Peteswindon HMRC ISA rules prohibit such a transfer. The work around is buy and sell see:
[Feature Request 🔧] Internal GIA to ISA transfers (Bed and ISA) - #3
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Hi guys, as always, apologies if this is a duplicate but i did a quick search and couldnt find anything, feel free to merge this as required.
For people like myself who have always been on the free version only used GIA and decide later on to move to a paid plan, how do we move our stocks over to the our new iSA from GiA ? ?
Ive earned some dividends recently and would like to avoid paying any taxes for as long as possible (even though im still way off the £2k threshold, which i assume is correct ?)
Thanks
HMRC rules: other than in some special circumstances you can’t transfer shares into an ISA. Only cash in GBPs can be deposited into an ISA account. Need to sell your GIA account shares and rebuy in your ISA account.
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Yeah thanks. My post was merged here and ive been scrolling through (plus replying to @NeilB post, what a bombshell!).
Ideally it would help if we could move money between the two accounts ourselves in realtime.
The method i use is to make sure i have cash equal to the sell price available.
I normally do a limit order if it sells i move the cash into the isa and buy back. When the sale settles in the gia i take it out and put it back into the savings account.
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So you mean you have the amount you want to buy back sat in the cash pot of the iSA ?
Do you then set the same buy limit in the iSA and sell limit in the GiA ? If so how reliable is this ? You would think the the sell and buy happen at same time for the same amount
Nope. If you have the cash in your bank account.
I sell the shares i want to move to my isa that are in my gia account. I now know how much i have to spend so i move that amount from my bank account into my isa and buy back. You dont need to use limit orders its just the way i do it. The sale money in your gia account can now go in to your bank account when it settles.
Contacting freetrade to move the money the same day would be being hopeful that they would read it on time.
Aaha got it. So you just need the initial capital on your bank account that you transfer to the iSA to buy the same stock you own on the GiA , then sell GiA stock as quick as possible to hioefullynsell for same price(or more) than you just bought on yhebiSA account ?
I think there is an opportunity for freetrade to increase the number of isa subscribers now the amount of tax free dividends outside an isa is going to reduce considerably over the next 18 months.
Introducing a service to bed and isa gia shares would be at the top of my in tray if I was incharge
I don’t get crypto so that would not be a top priority for me,
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Sorry for necroing this thread but can Freetrade give any update on this bed and isa feature request? I’m debating on converting my gia to an isa and a feature like this would make it an easy decision for me.
Yh got bit same problems as well -Any update on this?
I don’t know the value of your investments but if it’s a reasonable sum then with the upcoming CGT changes now would be a good time to do it.
No need for any special ‘Bed & ISA’ functionality - nothing you can’t do yourself.
Would be nice though to have some automatic functionality. A nice ease of life feature
Yes, but do you not need to wait for the cash to settle before moving it to the ISA (could take days)? Unlike the Bed & Isa which is significantly quicker.
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