Possible to make is easier to transfer cash from GIA to ISA?

Hi , I have recently gone through the frankly painful process of “bed and Isa” on some of my stocks (others I simply brought for too good a value and have invested too much in to move ) but now need to wait an additional few days now it’s settled for it to be moved from one acc too the other. Are there any future plans to steam line this process as ideally I plan to invest any dividends made in my general acc into my Isa account but don’t want the have the hastle of having to ask someone to move it every time , or is it even possible to get any GIA dibs automatically put into my Isa acc ? Cheers

I’m assuming you haven’t hit your subscription limit?

Therefore the question has to be - why would you have unwrapped dividend generating assets in a GIA if you can shift them to the ISA?

…because if you have maxed out your20/21 isa limit then you can’t move new monies from GIA income into that isa anyway.

I have only recently created the Isa after finding out more about the bennifits etc. Some stocks I was able to move some I’m simply unwilling to sell them re purchase as the price I got them for etc was brilliant but ideally I want all future cash inflow in my Isa

Just sell them, transfer the cash into the ISA, and buy them again.
The only thing this makes a difference to is the % gain displayed in your portfolio
(although maybe some FX fees stamp duty etc depending on what they are)

2 Likes

I concur. I’m struggling to understand the problem here.

I did it by putting some spare cash in the ISA first, so I could buy in the ISA and sell in the GIA at the same time without waiting for the trade to settle and withdrawal etc. It will take a couple of days to do if you have to wait for that. I wanted to do the buy and sell as close to simultaneously as possible to avoid any losses due to price movements.

It would be good if you could transfer cash instantly

The problem is the amount of time you have to wait for the money to be transferred from one account to another. Yes you have to wait 3 days for it to settke I understand that but an additional 1/2 days to transfer from one acc to the other further frustrates things as the market moves could be significant in the 5 days total it takes to sell your shares and then rebuy them . If you could switch fund from your GIA to your ISA instantly things would be more efficient and hopefully lower potential price rises etc. DAVE , as per your idea I wish I could do that as that’s a sound strategy , sadly every penny I own is / was in my GIA as was taking advantage of the crash

In 5 years time you are highly unlikely to give a single damn about the market movements of 3-5 days. Think long, not short

Haha I like that. It’s a fair point :muscle: