I’ve read conflicting information and would be grateful for some clarification:
Is it possible to transfer investments in and out of both Trading 212 ISA & Invest accounts, without having to liquidate investments first and without paying Trading 212 a fee (assuming the other broker in this instance transferring to/from allowed it)?
If not, I really think this would be a good feature to add and one that would increase the perceived safety of investing with Trading 212.
I’m also interested in transfers in general (not just ISA).
This is a point of friction for some of us to invest long term, so I’d be great if transfers are possible.
Due to the tax, this is not possible I believe.
ISA positions must be sold off first to then be repurchased in the Invest account.
I believe it has to do with tax avoidance otherwise.
forgive my ignorance: what’s an ISA account? I’m italian, is ISA something only for UK citizens? If it’s for anyone (UK and not UK citizens), if I do trading in T212 do I have also a T212 ISA?
Yes, an ISA is for Brits only. It’s a type of account with a special tax exemption perk
You can go Invest to the S&S ISA without selling and needing to re-buy yourself.
The term is “Bed & ISA”. I don’t know if T212 support that.
Obviously if you’ve made significant gains in your Invest account (£12,300+) you’ll need to work out your CGT to pay. In that scenario I would manually sell and re-buy inside the ISA instead, and keep some remaining in the Invest and wait until next April to repeat. You can also only put £20k into the S&S ISA each year if that’s a factor.
Yeah, I would also like to know this. Portfolio transfer option into/out of Invest account is the only thing keeping me from funding my account at the moment.
We’re actively working on in specie transfers.
Hi David, has there been any progress. I read on the forum that in specie would be available by 3Q2020. I am looking to invest more with Trading212, but am hesitant right now, since I will never be able to move the shares anywhere without liquidating them.
Greetings