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Posted Mon, 11 Dec 2023 19:56:07 GMT by
I have save as you earn work schem that has matured from my understanding this can be transferred into an ISA without capital gains within 90 days (this what it states on your website) Every ISA provider I have spoke to has said they need to complete this via bed and ISA however this means selling the asset and repurchasing it under the ISA. this triggers the capital gain as the asset as it is sold.i spoken to 5 ISA providers and they have all said have said the same thing. please explain how the shares can be transferred into the ISA without it being disposed first? What process should ISA providers be undertaken to transfer the shares into the ISA as they clearly don't seem to know.
Posted Mon, 18 Dec 2023 15:33:29 GMT by HMRC Admin 5 Response
Hi

You need to sell the shares in order to move them to your stocks and shares ISA and then use the funds to buy the sahres back.
The selling of the shares is what triggers any potential gain and the moving of them to the ISA then cancels this - this is only up to the £20k maximum for  the investment to an ISA.

Thank you

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