Is there a bed and ISA function available. I want to move my invest portfolio to my isa
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I don’t know what the term ‘bed’ refers to here but I’m almost certain you’d have to sell your Invest accnt shares and then buy them again in the ISA as opposed to there being a function to import them.
I’ve only heard of ISA to ISA transfers, the shares you hold in the Invest accnt require Stamp & CGT to be paid at some point so an import doesn’t seem possible for that reason alone but maybe someone else could confirm as I’m not 100%
I understand they have to be sold in the invest account and rebought in the ISA account, I was just wondering if Trading212 offered a service which would do that process, to minimise time and potential loss in capital.
Oh I see what you mean, that would be cool, I’m not sure myself but I’ll be keeping an eye on the thread for the answer!
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It is so easy to do it yourself that there is really no need. Other brokers who offer bed and ISA charge transactions fees for both buy and repurchase, but waive the repurchase fee, saving the client a bit of money. But since Trading 212 has no fee that is unimportant. Doing it yourself you can pick the time and price, even use limit orders. If you leave it to the broker you have to accept whatever time of day and price he chooses to make the transaction. You may be able to even do your own bed and ISA and manage to repurchase for less than you raised with the sale, making a profit. A broker will likely not achieve that.
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It depends if you can move funds between accounts during the settlement period. The whole purpose of a bed and ISA is to sell the instrument and buy it back at almost the same time across 2 different accounts. If you have to wait 2 days for the funds to settle before being able to transfer them to the ISA then that isn’t replicating a Bed and ISA.
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Hi there I am very new to this and am looking to do as above more Invest to ISA. have any of you managed to do this with out loosing money ?
many thanks
Suppose you have £1000 worth of shares in invest account that you want to put in ISA. You could put £1000 cash in ISA and then at almost the same instant sell and buy in the Invest and ISA accounts respectively.
But maybe you do not have £1000 cash spare to use as a float. Then you could do it in 10 steps with a float of £100. Or you could sell in Invest account, wait for settlement before repurchasing in ISA with the proceeds. You might lose a bit while waiting, but you are just as likely to gain. So no big deal. If you really insist on staying price level then you could hedge with a purchase in the CFD account.
Sorry to dig up an old thread - is Bed & ISA back on the radar for the new tax year?
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Would be good to hear this too…