ISA - Sale & Repurchase form

ISA - Sale & Repurchase form

Give your instruction to sell some of your holdings and transfer directly into your Stocks & Shares ISA, otherwise known as Bed & ISA.

What is a sale and repurchase?

Only shares that have been transferred from an HMRC approved scheme can be directly transferred into an ISA. For other shares, you can do a sale and repurchase (‘bed and ISA’), to move investments to your ISA  - subject to ISA eligibility.

We’ll sell your shares, move the cash into an ISA and buy back the shares at a reduced 'spread cost', in one online instruction. The cash moved will count as a subscription to your ISA. The sale may be subject to Capital Gains Tax.

What is the process?

  1. Complete the form at the bottom of this page.
  2. We'll sell your selected shares and immediately buy them back in your ISA.
  3. All instructions will be completed in fair and due turn, as soon as practically possible (usually within 3 working days).
  4. You'll receive a trade confirmation email once the trades have been placed.

What are the costs and charges?

  • You’ll pay our usual £9.50 online sale commission but we will waive the repurchase commission.
  • The spread cost* is limited to £50. We’ll also sell the shares and buy them back at the same time allowing us to reduce the spread cost.
  • You’ll also pay any applicable transaction charges such as Stamp Duty, PTM levy or other transaction taxes on the repurchase..

    * The ‘spread cost’ is the difference in the value of the sold shares and the cost to repurchase them in the ISA.

Important Information

  • Selling shares as part of a sale and repurchase may trigger Capital Gains Tax (‘CGT’). Once your investment is within your ISA, it will be sheltered from future UK income and CGT.
  • If you are trading an Investment Trust or Exchange Traded Fund, these need a Key Investor Document before trading. Please only place your order if you have read the most recent document and are comfortable with the content.
  • These trades fall outside of our standard order handling policy. To reduce the market spread we might execute both trades with a single Market Maker.

Other considerations:

  • This process is only available for investments that trade on a UK stock exchange. It is not possible to complete a sale and repurchase for funds or international stocks.
  • We can only sell shares from a share dealing account and buy them back in the ISA if the share dealing account and ISA are registered under the same account code.
  • In the majority of cases the number of shares we buy back will be lower than the amount sold. This is due to the costs of the transaction such as stamp duty or PTM levy (if applicable) and the difference between the buying and selling price (the spread).
  • Once you have submitted your instruction you will not have the option to cancel this instruction online. If your order has not gone through, please contact us by telephone or webchat, ensuring you have your security information to hand. In most cases we will be unable to cancel the order; any attempts will be by best endeavours.

Please make sure:

  • The details on the form are accurate
  • There is sufficient stock in your Share Dealing Account
  • The stock is ISA eligible
  • You have sufficient ISA allowance available for this tax year (the current ISA allowance is £20,000)
  • Your ISA is active

 

To check if your ISA is active then visit the Valuation Page and check that the Account Status shows as 'Okay to Trade'.​

If the status shows as 'Suspended' then this can be re-activated on the 'Fund and Withdraw' screen through Account Management while the ISA portfolio is selected.​

It is your responsibility to ensure that all conditions are met, otherwise we may be unable to process your instruction.​

Frequently Asked Questions 

ISA - Sale and Repurchase form
 

Please complete all fields unless marked 'optional'.

Here are the ##?## fields that need completing before continuing:

The tax year runs from 6th April to the 5th April.

Please note, instructions executed after 4.30pm on the last working day before the 6th April will be for the next tax year.

Due to volumes, we cannot guarantee that any forms submitted on the last day of the tax year will be processed in time for the end of the current tax year.

Requests received on the 5th April will be dealt on a 'best endeavours' basis.

 

 

If you do not have a Stocks and Shares ISA opened, you will need to open one from the ‘Open a new account’ tab on the right-hand side menu before completing this sale and repurchase instruction. Please note you cannot add an ISA to a joint account.
 

Please remember that the value of investments and the income from them can fall as well as rise, and you may get back less than you invest. If you’re not sure about investing, seek financial advice. There will normally be a charge for that advice. Tax Treatment depends on personal circumstances and may be subject to change.

 

 

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This is the Tax Identification number, which matches your nationality. For example, for the UK it would be a National Insurance (NI) number.
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Sale & Repurchase instructions can only be accepted for UK equity trades. Instructions in non-UK equities, or any asset not traded directly on an exchange, such as funds, will not be completed and will be cancelled.

 

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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£

OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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£

OR to cancel, return to the request above and select 'No' to the question: 'Would you like to add another Sale & Repurchase instruction?'

 


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£

OR to cancel, return to the one above and select 'No' to the question 'Would you like to add another Sale & Repurchase instruction?'

 


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This form can accept up to 12 instructions. To complete more, please check and SUBMIT the above instructions and complete a second form.

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