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Posted Sun, 22 Sep 2024 05:33:59 GMT by ebnw
We have UK Company Shares / Stocks investment in Normal Brokers investment account. We will move the investment from the Normal account to the ISA account. Based on the Broker's requirement, I must sell out the investment, and repurchase the investment in the ISA account. Cannot move the investment directly. Sell out 100 shares A ( Normal investment account ) ==> GBP XXXX ==> Repurchase 100 shares A (ISA investment account) My question is: In this progress, due to the transaction time gap, it may have any gain/loss. Does it need to count as Capital gain/loss? I will sell and repurchase the same quantity of Company shares. Also, it is just a " transaction". Required by the Brokers/regulation... between Non ISA and ISA A/C Many thanks for your help/advice.
Posted Tue, 01 Oct 2024 09:28:54 GMT by HMRC Admin 32 Response
Hi,
It is a requirement that you sell the shares outside of the ISA and immediately buy them back inside the ISA.  If these transactions take place at the same time, then there is no gain / no loss arising. Now that they are in the ISA, if you dispose of them, there is no capital gain, equially there is no loss if you dispose of them for less thay they were acquired for.
Thank you.
 

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