Moving holding from "Invest" to "ISA"?

Hi,

Is it possible to move my holdings from my “Invest” account to the “ISA” account?

I started creating my portfolio in the “Invest” section but realised I don’t have to worry about taxes if I do it through an ISA.

Thanks

Sorry - I’ll add my question under yours, as it’s kind of the same…

I would like to know the same, plus - let’s say if there has already been a transaction in the ‘invest’ account with some profit, but I transfer the funds to the ISA after that, do I still need to pay tax because the profit was made within the ‘invest’ account, not the ISA?

@askeyt It is not possible to transfer your holdings directly. First, you need to sell your shares, then using the ‘Move funds’ option you can transfer the funds to your ISA.

@kvigulis Yes, you will still need to pay taxes on the capital gained while using the Invest account.

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Thanks George.

Is there a specific reason we can’t do this?

taxes.

all transactions in the Invest section are taxable while the ISA is tax exempt. Since you have to pay the taxes associated with taking profits you cannot just move the shares you hold into a tax free wrapper, you instead have to close all your positions, move the funds and reopen positions in the ISA directly.

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Is the ISA account the CFD option instead of the Invest one?
What else is different between these two options?

ISA is the ISA option only viewable when using the platform set to real money. The ISA option is limited to depositing £20000 every tax year, not sure if they restrict it to people in certain countries or not. The benefits are that no taxes are paid when you profit from your positions or withdraw, you may only have to pay taxes on the dividends from foreign companies.

CFD is trading which is very different but as I don’t trade CFD, I can’t tell you anything about how it’s different.

My Invest account is set up to Germany, I don’t see any ISA thing at all, I suppose it’s an UK thing.

cheers.

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@laguiar You are right, the ISA is a UK specific account and is available for UK Residents only.

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