Can we have confirmation that any positions open inside the ISA will be sold at cash value at time of sale?
Iāve seen mention of winding away the transaction as if it never happened, Iād like confirmation that this wonāt 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 . Donāt panic. But they may need to adjust ārepairā things behind the scenes⦠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 āwithdrawalā was forced ⦠this is āISA repairā process that t212 might need to undertake⦠again, thatās for themā¦
How they do this is for them to clarify
They ācouldā adjust all records so the stock never went through the isa. But youād 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? 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?
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.
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.
Re: SIPPs. Correct. Thereās a technicality with pensions that means ālegallyā the assets are owned by the pension scheme - so a professional, institutional entity not an individual retail investor⦠this opens up all manner of quirks. At the risk of going off topic, for example, US ETFs.
Back on topic ⦠correct for SEA
I still think t212 need to provide greater clarity around the technical points of each persons position⦠even if they say contact our service team.
Sadly not. It opens many many other cans of worms that can bite you in the ass unless you manage your pension scheme correctly⦠but it solves āsomeā⦠but creates others.
Letās get back on topic⦠ISA eligibility is a minefield⦠maybe brokers need a better way to manage it⦠hello@finki.io for brokers interested in an automated isa eligibility solution⦠#CheekyAd
Hmm I havenāt 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 thereās 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
@Team212 need to completely overhaul there assignment of what is ISA eligible and not-eligible.
Iām 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 thatās eligible for ISA inclusion.
Extremely disappointed with this news @David@Team212 . If trading212 canāt 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.
Iām sure while they sell manually weāll have the traditional trading212 bad fills on open meaning if the market opens weaker today weāll be selling for an even bigger potential loss given we canāt decide when we sell.
And I didnāt get any notification in the app or on my phone or any email. I found this out from a friend.
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 donāt understand is T212 use IBs SaaS underneath, surely that database would have correct info if an instrument is ISA applicable or not? T212 canāt add anything to its platform that hasnāt 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 āofficialā 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 ānopeā so T212 has ānopeā. Then IB later corrected their database entry to āyepā and T212 is now out of sync?
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 212ās eligibility list.