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Posted Mon, 01 Apr 2024 11:17:26 GMT by Nigel
I have used my £20000 ISA allowance for the current tax year. I have shares outside an ISA and wish to take advantage of CGT allowance in the current tax year. I have previously completed Bed & ISA where holding was sold and repurchased straight away. Can I sell shares (outside ISA) on 5 April 2024 and then purchase the same number of shares on 8 April 2024 within an ISA without any future tax implications? The sale (outside ISA) will generate a gain, but the amount will be within CGT allowance. I’ve heard about 30 day bed & breakfast, but I'm not sure if this is relevant if I am buying back the shares in an ISA. Please can you confirm.
Posted Fri, 05 Apr 2024 06:40:19 GMT by HMRC Admin 25
Hi Nigel,
You cannot transfer any non-ISA shares you already own into an ISA unless they’re from an employee share scheme.
Thank you. 

 

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