Polestar ⚡️🚘 - PSNY - Share chat

I don’t know where that has come from. An ADR is just a way for Americans to buy foreign in listed stocks (sort of). GGPI has always been a direct NASDAQ listing.

I’m guessing the YouTuber thought because it’s a foreign company it must be an ADR as he was talking about Nio and Xpeng and assumed it was in the boat (albeit it is owned by Geely and they’re made in China and HQ in Sweden). Either way I’m glad as the delisting saga with the Chinese companies gave me an uneasy feeling but thanks for explaning!

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Annnnnnnnd we’re live!

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A post was merged into an existing topic: Why do my limit orders not complete?

Does anyone know why it’s coming up that Polestar is not suitable for an ISA? I have it in my ISA and have had no notification about this. I think it’s an error? Can anyone advise?

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I’ve flagged it to be reviewed, hopefully, it’ll be sorted quickly. So far as I know nothing about GGPI changed when they reverse merger with polestar.

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Checking this out now, @Emmie.

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Thanks @NeilB and @sampoullain appreciate you getting back to me so quickly!

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Hey @Emmie, you’ll receive a message today with more information on this.

In short, the stock cannot be held in an ISA as it’s an ADR, and its underlying shares are not listed on a recognised exchange.

More info below:

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Can anyone offer me advice on this, I currently have all my shares in my ISA. If I transfer this over into my GIA, am I going to end up in a situation where I would be needing to complete a tax return? I was planning on holding long term and I’m worried it shoots up in value and I end up being taxed a huge amount. Don’t know if I should just sell and get rid of it now, so disappointed as I’ve been holding for months waiting for the merger.

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No you won’t have to fill in a tax return just because you have these shares in your GIA and you make a profit on them. Yes you will end up having to file either a tax return or use the ‘real time’ Capital Gains Tax Service (online) if the total proceeds you get when you sell your shares exceeds 4 times the CGT allowance (whether or not you make a profit) OR if the total profit you make on your shares exceeds the CGT allowance. Currently the CGT allowance is £12,300. Don’t be surprised if you are invited to fill in a SA form if you file a CG via the Capital Gains Service.

What is the relevance of me saying “total proceeds”: Sum up all your sold deal values, outside tax wrappers, for the year. e.g I sell shares worth £40, £ 100 and £200: My tax proceeds are £340.
What is the relevance of me saying total profit: You are able to deduct losses and costs (e.g. forex). So in tax year X: if you sell some shares at a loss of £400 make a profit of £12500 on your Polestar then you will have a overall gain of £12,100 which is lower than the CGT allowance and so you will have no CG to pay or form to fill in.

More complete information and a link to the real-time Capital Gains Tax service:

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Why sell? I would keep hold of that’s your plan and shouldn’t be an issue to be in issue?

Happened to me once queried it and it got resolved or is there something that’s actually happened and confirmed this :thinking:

Think you could always sell if they was in GIA and transfer money into ISA again can’t you?

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@bitflip thanks for your wisdom and help with this, it’s complex to anyone starting out and you have explained it really clearly. I’ll see what options I get but hoping Freetrade agree to move the shares over, it’s such a hassle selling and then having to repurchase. Thanks again :pray:

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And is it only capitol gains tax applicable if you draw that out into your bank account?

And is Thet the benefit of an ISA :thinking: asking for a friend :rofl:

I don’t think I can, it’s not allowed to be in an ISA, really inconvenient but nothing I can do. I’ll transfer them over and hold, as I don’t want to sell them off. I planned on holding for a long time.

I don’t think you can actually move shares over :man_facepalming:t3: I’ve asked that question and the answer has always been you have to sell current stock in account can only move money not actually shares :pleading_face:

maybe wrong but worth another check

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CG is applicable if it is outside the tax wrapper. So I am afraid it is a capital gain if it is in the GIA … whether or not you move it your bank account. To be clear moving any gain from the GIA to the ISA does not erase the fact that you have just had a gain and may have tax to pay on it. Of course after that gain is moved into the ISA any further gains in new shares are protected.

Yup, you can tell your friend :wink: that is the purpose and benefit of the ISA.

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So my friend just said if they sold some shares for £7000 and some other shares for another £7000 would then be able to transfer to ISA

if they have enough money left to add into ISA :thinking:
They got a bit confused with your first paragraph :joy:

But if you’ve sold the shares in first place your only moving cash into ISA so you wouldn’t have original shares left :thinking:

And for @Emmie question if know?
Am I right in thinking you cannot move shares to or from GIA/ISA just cash :thinking:

Yes you are right but I am sure I saw that in a situation like this, there is something that the team can do to help. I’ll wait and see what the email says but I had made a small profit and then it’s dropped the last 2 days and I don’t want to lose out selling and buying again.

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