[CGT] Moving from Invest to Shares ISA having not made any profit

🤝 Help
1

Hello everyone and apologies for the rookie question

It is more on what is defined as “profit” in terms of capital tax

  1. November 2025: I have transferred 40k gbp from my savings to Invest on T212
  2. My ISA is already maximised for the current year
  3. I want to move in April 2026 20000 gbp from my Invest to my Shares ISA
  4. Assuming at the time of the transfer my Invest fund will have only 42k this means I have made only 2k in profit right?
  5. Transferring those 20k from my invest account to invest isa will not be read as profit as for the whole 20k but only for the 2k that are within my allowance (so no capital gain tax). Correct?
  6. Of course I will do this transfer within 24-48 hrs

Thanks a lot

2

I don’t think it’s that simple but I am not an expert.

If for example you have made ÂŁ5k on one share but a ÂŁ3k loss on another, when you sell the share with the ÂŁ5k gain, you would incur a capital gain.

However if you complete an end of year tax return, you can offset the gain with your loss. My suggestion would be to look on

3

I’m no expert either, but:

  1. Yes, as Nige said, CGT is only calculated on realised profits, i.e. what you’ve sold. So as Nige said, if you have two positions one up by 5k and the other down by 3k and you only sell the one that’s up, then the -3k isn’t included in your calculation.
  2. Something to be aware of is the bed and breakfast rule: if you sell an asset and buy it back within 30 days (the bed and breakfast period), then it’s not included into your CGT calculation (whether that’s good or bad for you depends on your situation).

It might be worth quickly running this through chatGPT or something similar. Sure, it’s not 100% guaranteed to be correct, but at least it’ll point you in the direction of what you need to look up.