Hi, I have some old individual stocks within the T212 Stocks ISA, I want to sell these and move them to an ETF without impacting this years allowance. How do I do that please?
I can only find a way to move from a Cash ISA to Stocks and not Stocks to Stocks.
Thanks
You just sell the individual stocks and buy into the ETF. It won’t affect this year’s allowance at all. It’s as simple as that. You can’t move stocks to stocks/ETFs. You need to sell and buy.
The move feature within T212 is to move money (only money) between the different types of accounts (S&S ISA, Cash ISA, General Investment and the spending pot within that)
Hey.
Like the other person said. If you sell shares and use those proceeds to buy another share, this is using funds that are already in your ISA, so does not count towards your ÂŁ20000 yearly limit.
However if you sell the share, top up your funds with, say, ÂŁ100, the share you sold is worth ÂŁ200, so total combined is ÂŁ300, but your allowance has only come down by ÂŁ100 as that is new funds.
Regarding an etf, think of it as when you buy into an etf, you are buying a bucket, and then someone else picks the stocks to fill that bucket with, you do not choose which shares that person buys, as they are the fund manager and you are trusting them with your bucket and hope they make you money with what they fill your bucket with. You can see a list of what an etf has inside it on the ETFs webpage, it’s normally 1000’s of stocks with a handful of stocks heavy weighted. These are the stocks that will fill your bucket.
Now where’s my spade.