Transfer holdings not cash when transferring ISA

I’d find it really useful if I didn’t have to sell my shares when transferring an ISA. If I’m holding those shares it is because I think they will generate income or growth which I could miss out on when transferring an ISA.

the whole reason you cannot just transfer the holdings is to due to tax laws, not just a preference of the T212 team.

I’m sure I’ve transferred UK stocks from one broker to another without selling if it is a previous years tax allowance

ah, if its from an existing ISA then its a bit different.

I checked the terms PDF and they do mention transferring ISA’s out but not a word about transferring in. But I am certain this is offered as its part of offering an ISA service, you may need to pay some fee’s however. you should contact the team directly as it requires details regarding the ISA’s etc from both ends.

I would use the platform help chat feature to talk directly with someone who can point you in the right direction. They will be able to tell you any forms you need to fill out and who to send them to. Just make sure to clarify whether or not the transfer is treated against this years allowance

They do accept transfers in. But cash only so you have to sell your holdings and the cash is transferred

I wonder if this is something T212 should look into, since other platforms do permit in-specie ISA transfers. I once moved a ISA from AJ Bell to Interactive Investor. However, that ISA contained a number of investments in OEIC funds, which could be held on both those platforms, but which cannot be held by T212.

You are permitted to have more than one stocks and shares ISA - just not contribute to more than one in a given tax year. So it would be possible to leave your old ISA in place and start a new stocks and shares ISA with T212 in your next tax year.

T212 have said they are looking at it, but there’s a lot of backend paperwork and other things they need to go through to get it done, its not such a simple process. so it’ll take a while, but will eventually arrive.

for now we can see a lot of other stuff become more readily available.

2 Likes