CGT liability if sharesave scheme not directly transferred to ISA but within 90 days

I have a recently matured employee sharesave option to exercise. The process my stocks and shares isa provider (HSBC) have confirmed for transferring the matures scheme shares into the ISA is by first transferring them to a non-ISA nominee account and then into the ISA. There I’ll be no sale of the shares, and they will end up in an ISA within 90 days of exercising the option, but could I be liable for capital gain tax if the shares did not go directly to the ISA?

Hi,

They could be, depending on the value. You can see guidance here:

Tax and Employee Share Schemes

Thank you.

Thank you but I understand how CGT works in terms of values, what I am asking is if the shares are transferred first to a nominee account and then onward immediately to a stocks and shares ISA, does this mean CGT applies or not. As in, if they are transferred straight to the ISA CGT will definitely not apply, would this change if HSBC need to move it to a nominee account before they then transfer it to the ISA?

Hi,

As long as the shares are put into the ISA account on the same date of transfer (the date you receive them/they vest) then it can be in the HSBC nominee account first -

Individual Savings Accounts (ISAs)

Thank you.