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Posted Thu, 28 Dec 2023 17:20:56 GMT by
Hi HMRC I have purchased US bank stock in my ISA account. Then the share price of this stock decreased substantially and became penny stock. It is now listed on PINK exchange. As the US penny stock cannot be traded anymore in the ISA account, the stock broker automatically transferred that penny stock from ISA to my individual account. Originally I do not need to report or pay tax on any capital gain and loss of ISA account. But now, my question is that the penny stock was automatically transferred to my individual account by the Stock broker, can I include the capital loss of this penny stock (after selling in my individual account) when calculating the total capital gain tax of my individual account? Thank you
Posted Tue, 09 Jan 2024 12:01:43 GMT by HMRC Admin 32 Response
Hi,

Any losses made on your investments in your stocks and shares ISA can't be used to offset capital gains on your other investments.

Thank you.
Posted Tue, 09 Jan 2024 16:05:28 GMT by
To clarify, if I sell this penny stock I am forced to sell through my non-ISA account. In this act: I bought this stock through ISA account and sell this stock through my non-ISA account, do I have to report gain or loss to HMRC?
Posted Tue, 16 Jan 2024 09:37:47 GMT by HMRC Admin 19 Response
Hi,

No, as stocks in an ISA account do not pay Capital Gains Tax.

Thank you.

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