ISA Unavailable Stocks notification

Can we have confirmation that any positions open inside the ISA will be sold at cash value at time of sale?
Iā€™ve seen mention of winding away the transaction as if it never happened, Iā€™d like confirmation that this wonā€™t happen in case of us having an increase in value of any of these

Following up with that it would be good if someone could clarify what happens to the ISA allowance

They can not take profits from you . Donā€™t panic. But they may need to adjust ā€˜repairā€™ things behind the scenesā€¦ nothing for you to do. A simple sale and immediate repurchase would suffice, but it looks like t212 might force a sale, cash transfer to GIA and repurchase. They might then need to adjust the subscriptions levels again as your ā€˜withdrawalā€™ was forced ā€¦ this is ā€˜ISA repairā€™ process that t212 might need to undertakeā€¦ again, thatā€™s for themā€¦

How they do this is for them to clarify

They ā€˜couldā€™ adjust all records so the stock never went through the isa. But youā€™d be left exposed to CGT on big gains in the GIA.

Again, T212 need to be clear on their plan and the implications

Might have been covered but how would they deal with positions which have an unrealised loss? :grimacing: you could argue you planned to hold until profit but if forced to sell is that T212s mistake or yours for not checking ISA compliance?

1 Like

Staff havenā€™t said anything yet.

In regards to SEA I actually saw it on my ISA account but did not invest at that time. Recently I tried again to find it but to no avail. So I think that it was removed because it is ineligible for inclusion.

In regards to exchanges recognised by HMRC, JD.com is also listed on the Hong Kong Stock Exchange (HKSE). Is the HKSE recognised by HMRC? If so then perhaps Trading 212 can speed up their plans to add the HKSE to their platform.

1 Like

Yes it is! Since 1971ā€¦
https://www.gov.uk/government/publications/recognised-stock-exchanges-section-1005-income-tax-act-2007/shorter-tables#hong-kong

1 Like

@David - Any plans to move forward the timetable to offer HKSE shares ? I have a list of recommended shares :smiley:

Yes SEA $SE was removed around the time of the NIO information. Company is registered in Cayman, underwritten in Singapore, and has no listing on any exchange for the underlying stocks (I believe this makes it SIPP eligible but not ISA eligible).

Edit: most of the information can be gained from the SEC filings from when they were setting up the ADR, it was about 80 pages of snooze.

1 Like

Re: SIPPs. Correct. Thereā€™s a technicality with pensions that means ā€˜legallyā€™ the assets are owned by the pension scheme - so a professional, institutional entity not an individual retail investorā€¦ this opens up all manner of quirks. At the risk of going off topic, for example, US ETFs.

Back on topic ā€¦ correct for SEA

I still think t212 need to provide greater clarity around the technical points of each persons positionā€¦ even if they say contact our service team.

1 Like

So the solution is for Trading 212 to offer SIPP pensions for the UK and all our problems are solved! :joy:

Sadly not. It opens many many other cans of worms that can bite you in the ass unless you manage your pension scheme correctlyā€¦ but it solves ā€˜someā€™ā€¦ but creates others.

Letā€™s get back on topicā€¦ ISA eligibility is a minefieldā€¦ maybe brokers need a better way to manage itā€¦ hello@finki.io for brokers interested in an automated isa eligibility solutionā€¦ #CheekyAd :man_shrugging:

Hmm I havenā€™t received any notification yet on trading212 desktop or mobile app regarding this topic, but I am happy I found this thread on forum.
I have Nio and baiDU in my ISA
my wife has Nio and Jumia Tech in ISA
if we sell today these positions thereā€™s no way we move money to Invest, we need to keep 20k Ā£ under ISA to avoid taxes hence we just need to find something else to buy
Sorry Nio :(((((( this is against my will :frowning:

@Team212 need to completely overhaul there assignment of what is ISA eligible and not-eligible.

Iā€™m finding more and more that are incorrect.

Several marked as NON-ISA when, my results at least, suggest they are.

Example 1: Mesoblast

ADR is on US exchange, yes. US5907171046
But parent is ASX. AU000000MSB8
https://www.asx.com.au/asx/share-price-research/company/MSB
and not a tier of the ASX that would be inelgible.
So the FinKi auto ISA API is telling me thatā€™s eligible for ISA inclusion.

There are quite a lot

Lots of work for T212 to do

I wish them luck

:upside_down_face:

Extremely disappointed with this news @David @Team212 . If trading212 canā€™t facilitate moving the stocks from the ISA to the Invest account (a simple transfer between accounts that other brokers like IBKR can do) then we should be compensated for this.

Iā€™m sure while they sell manually weā€™ll have the traditional trading212 bad fills on open meaning if the market opens weaker today weā€™ll be selling for an even bigger potential loss given we canā€™t decide when we sell.

And I didnā€™t get any notification in the app or on my phone or any email. I found this out from a friend.

1 Like

Yes, I just checked. Interactive Investor and Hargreaves Lansdown both permit Mesoblast ADR to be purchsed in an ISA. But on Trading 212 app it can only be found for the Invest account.

@Finki what I donā€™t understand is T212 use IBs SaaS underneath, surely that database would have correct info if an instrument is ISA applicable or not? T212 canā€™t add anything to its platform that hasnā€™t yet been added to IBs AFAIK.

Are T212 actually having to manually look into every single one being added to determine this? Seems a lot of work. Is there an ā€œofficialā€ central list to check against? Feed in an ISIN and get a yep or nope back.

Ah so do you think its the case that when T212 added the ADR records to their local database that IB had ā€˜nopeā€™ so T212 has ā€˜nopeā€™. Then IB later corrected their database entry to ā€˜yepā€™ and T212 is now out of sync?

Correct as far as I know

No, thereā€™s no central authority on isa eligibilityā€¦ hence you need to check on an on going basisā€¦ hence my solution

I assume they leverage IB dataā€¦But not very well !!!

Interactive Investor (UK) is not the same as Interactive Brokers. Interactive Brokers does not provide ISA accounts so they will not be the source of Trading 212ā€™s eligibility list.