Can I transfer my shares to an ISA?
Yes, you can.
Usually, to move shares into an ISA you need to sell them and buy them back within the ISA. But with ShareSave you can avoid this if you do it within 90 days of buying the shares.
Once they’re within the ISA, your shares will be free from capital gains tax and any dividends will be free from income tax.
To do this, firstly contact your ISA provider to let them know what you want to do. They’ll tell you which documents you’ll need to send them. Note that different ISA providers will have their own requirements however the documents they request will typically include:
- Your option certificate – you can find this in your documents library on EquatePlus
- A CREST transfer form
- Letter of Appropriation – this is a letter from Computershare that confirms that the shares are from a ShareSave plan and the date you bought them. This can only be requested after you completed your transfer request on EquatePlus
Before initiating the transfer request on EquatePlus you’ll need to select Choice 1 – Exercise (Buy and KEEP shares) on your maturity election task in order to buy shares with your savings. The date you complete this action will start the 90 days deadline to transfer your ShareSave shares into an ISA. The shares will typically be available in your Share Plan Account within 1-2 days.
Once your shares are available in your Share Plan Account, you can then start the transfer process on EquatePlus. Log into your EquatePlus account and click on the Share Plan Account tile on the Overview screen, click on the green "Transact" button and then select "Transfer". You’ll also need to enter your ISA account details. Note that the transfer transaction is not currently available via the EquateMobile App.
Once this is completed you can then request a letter of appropriation from Computershare either via their contact centre on +44 (0)370 702 0109 or via the HelpChat function. Computershare will send this to you via email and you should then share this with your ISA provider immediately on receipt.
You should note that while some transfers may complete in 5 to 10 business days it can take up to 20 business days depending on the receiving provider.
Generally, the value of the shares you transfer into your ISA will count towards your £20,000 annual ISA limit.