I am not sure what your friend means. But I’ll try one more time:
Let me rephrase: if you have share X in a GIA which you bought for £6900 and sold for £7000 i.e. making £100 profit then that £100 is a capital gain which is potentially subject to tax. If you add up all other GIA gains that year and the sum of gains is less than £12,300 then you pay no capital gains tax. If you use your proceeds to buy £7000 of new shares in a GIA then any gain on that £7000 is potentially subject to UK CGT. If instead you transfer £7000 cash to your ISA and buy shares in the ISA which you then sell for £7200 … that new £200 is free from UK CGT not because of your UK CGT allowance but because it is inside a UK tax free wrapper.
I think they would have said if there were, here’s hoping I don’t get a charge! I’m a plus subscriber anyway and I’ve got a SIPP with Freetrade, so I pay an amount each month anyway that I would hope would cover anything like this.
I’m still a little confused, if it was a standard NASDAQ listing GGPI why did it deSPAC in PSNY and suddenly become an ADR. Which other exchange is it listed on? Can’t find anything online that helps.
Exactly. The new $PSNY ticker is also officially traded on Nasdaq - even had an official opening bell ceremony this week.
Even if it is an ADR where the underlying shares are listed somewhere else (where exactly, can’t find anything), isn’t this ADR being officially on Nasdaq enough to be eligible for ISA?
In case we get a solid confirmation that it is now GIA only, I would like to opt out of automatic share transfer from my ISA. This would decrease my ISA balance without increasing the 20k allowance, so I would prefer to just sell and rebuy. In that case though, I’d love an option to sound laying 0.45% commission raise (sell+buy).
I also find the text in the latest notification quite dishonest: it says “further to our previous notification…” where we never actually received any notifications, buying hot restricted and the users had to found out from here. I did not even know that I had to register for this forum separately as I never use it.
I posted something similar Neil (bit as I’m new it’s awaiting approval as I’m new to the forum). An ADR is allowed right as long the underlying shares aren’t traded on another exchange. Which PSNY isn’t as far as I can tell?
I’m confused. I received this message as well, however polestar is on the NASDAQ which is an exchange recognised by HMRC to be held in an ISA. What’s going on?
That’s not quite right. For ADR’s to be eligible to hold in an ISA, the underlaying shares have to be tradeable on an exchange recognised by HMRC. As Bitflip has mentioned above, the ordinary/common shares aren’t tradeable, which therefore would therefore make it ineligible to hold in the ISA.
I had this message this morning when I opened the app. Looks like they’re transferring them automatically for everyone. Just all seems like an odd thing to happen given the Gores shares were eligible, why has Polestart now moved them to an “unusual” or different listing. Strange.
Don’t think Polestar has Moved anything, the SPAC shares were shares in a separate shell company that merged with Polestar. These were exchanged for Polestar shares
