How do I transfer shares to my ISA via an HMRC approved Employee Share Save Scheme?
HMRC does not permit shares to be transferred directly into an ISA unless you have received them as part of a Save As You Earn scheme or an Employee Share Investment Plan. For Save As You Earn shares, you need to be within the 90 days of the date you exercise your share options or, for Share Investment Plans, the date your shares cease to be subject to the plan. As long as your shares are UK-listed, we will not charge for any transfers in of these UK-listed shares.
Save As You Earn Shares:
To transfer in shares received under a Save As You Earn scheme, please send us the following:
- A cover letter stating that you wish to transfer your Save As You Earn shares into an ISA.
- A copy of the signed and dated Exercise of Option form (sometimes known as the Share Save Maturity Form).
- Your share certificate or, if the transfer to us of your shares are held electronically, please provide the name of the stock and the number of shares due to be transferred to us with the contact details of the transferring Investment Manager.
Share Investment Plan Shares:
- A cover letter stating that you wish to transfer your Share Investment Plan shares into an ISA.
- A copy of the signed and dated release form.
- Your share certificate or, if the transfer to us of your shares are held electronically, please provide the name of the stock and the number of shares due to be transferred to us with the contact details of the transferring broker.
How can I pay my ISA fee?
We will deduct our monthly fee from the cash balance in your ISA.
If the ISA fee has created a cash deficit, you may have to make a subscription payment or sell some of your holdings in order to cover the deficit.
To make the payment, under your “Dashboard” dropdown menu, please click on the “Pay Money In” link.
If you would like future fees to be taken from outside of your annual subscription allowance then it is possible to arrange for them to be deducted from your investment account. In order to set this up please click on "fee preferences" from the dashboard menu.
How can I transfer my ISA from another provider to my CSD ISA?
You first need to open an ISA with us (see ‘How do I open an ISA’ ). You then need to complete and return an ISA transfer form. You can either contact the Helpdesk on 0131 550 1234 to request the form or, under your “Dashboard” dropdown menu, print one off by clicking on the “Transfer In” link. If you have more than one account with us, you will need to ensure your “selected account” is your ISA under the Account Selector field you’ll see to the top right of your screen.
How do I open an ISA account?
First please register with us. During the registration process you will be asked which accounts you wish to open. Select ‘ISA account’ and follow the steps on the screen. If you have already registered please login. On your Dashboard home page you will find an “Open More Accounts” link, which will give you the option to apply for an ISA account.
How do I “Bed & ISA”?
Bed & ISA is a way to transfer shares held outside of an ISA into your ISA as a subscription. The shares are simultaneously sold from your Investment Account and repurchased in your ISA account through the same market maker to protect you against any price movements and to control the amount charged by the market maker by the “spread” between the sale and repurchase price. On the settlement date, we will record the sale proceeds as your subscription to your ISA.
The following charges may apply:
- £11.50 commission on both the sale and repurchase, £23 in total.
- Stamp duty (if applicable) on the purchase.
- For UK listed share purchases over £10,000, a levy of £1 to help fund the Panel on Takeovers and Mergers.
- Any difference between the sale and repurchase prices.
Bed & ISA must be requested by telephone, by calling our Helpdesk on 0131 550 1234. If you wish to carry out a Bed & ISA near the end of the tax year, please leave yourself plenty of time because our deadline will be a few working days before 5 April.
Because Bed & ISA includes a sale, you might also need to pay capital gains tax.
What can I hold in my ISA?
The following securities can be held in your ISA;
- Funds, Unit Trusts and OEICs
- UK Equities listed on the London Stock Exchange (LSE) and the Alternative Investment Market (AIM)
- Investment Trusts and Real Estate Investment Trusts (REITs)
- Gilts & Bonds
- Permanent Interest Bearing Shares (PIBS)
- Exchange Traded Products
- Overseas shares listed on the main European US Canadian and Far Eastern Markets
If you are unsure whether an investment is eligible, please contact our Help Desk on 0131 550 1234.