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Most of the time I have done a pseudo bed and isa I have taken the same kind of approach you propose. What a general rising period does allow is the potential of buying in the ISA and then holding off the fund & share account until the price has risen slightly higher. A bed and isa beating the spread and carrying a little profit with it. You cant always do this quickly (or at all) and I have had to wait weeks or months to implement it successfully in the past, but worth considering given the share momentum. I have also intended doing this and then just kept them all anyway if I've found I didn't need the liquid cash in the end.
I recognise I am lucky though, I'm self employed and I apportion the tax portion of every receipt into separate accounts which does give me access to short term liquidity for this kind of thing.
As always trying this kind of timing comes with risk so make a careful decision for yourself.
Its frightening Nico.... but have explained to girlfriend that i would rather take a small hit now, than one almighty whack later on , think i've got it figured out though now, just hope in between sell/buy shenanigans that Prd doesn't do 30% like on friday.....but only moving £5k at a time should hopefully iron out any large rises.
On a different note, Snd are nigh on adjacent to us in Guercif, and close to falling apart money wise ......Bond issue, tax demand (but tax is open to discussion) pity Pg wasn't in buying mood as they have a fair bit of gas waiting to be brought out of ground......just a thought....and no i have no shares in Snd at moment but was just musing...
Anyway, gardening time.......amazingly its beautiful outside!!
Gla
Bdt
Nice idea Zebra. It's ell worth asking if they will clear the money more quickly in view of the fact as they no longer provide the Bed & ISA service.
BDT- I was doing a spot of housekeeping a few weeks ago, spreading shates around family accounts to crystallise a CGT loss.
Idea was for me to sell PRD and buy Longboat. Daughters to sell Longboat and buy PRD. Plan fell apart as PRD went up and daughters couldn't buy for a few hours. Lost a few grand but in the grand scheme of things, CGT losses crystallised and all good to go in a few weeks time.
Not wishing to be a doom monger BDT but good to be aware. I'm prepared just in case and will think c'est la vie rather than be mugged right off. As PRD will multi bag, if we lose a little transferring from a Fund & Share account to an ISA, think of it as collateral damage, soon to be dwarfed by massive gains protected in our ISAs from the grasping mitts of the taxman..
Thanks everyone...
Replies to posters are In no order of importance.....but think i have a cunning plan, more cunning than a fox who studied at cunningham university....with apologies to Blackadder
Plan ....Will use 5k out of bank to purchase more Prd, sell 5k of Prd in fund share account, transfer that money to Isa account when it clears, shows up....buy Prd shares.
Keep doing that for a while to clear the 40 k in fund share account and it leaves minimum amount of shares in nowhere land due to delay in transfers beteen fund share sales and consequent isa purchases ....really worried about a lot of money sat doing nothing while share price could rocket.
Then do same after april 6......does that make sense?
Nico....sold Sou for 13k loss so thats my cgt sorted.
Honest woman.....? We were planning it...but covid etc and enforced redundancy last year put mockers on it....but will be having honeymoon in Paris at one point (Our favourite city...go 2 or 3 times a year).
Got approx 680,000 shares to move so thats why i am reluctant to move in one large hit....could fall very foul of not being able to repurchase that many :(
Mem...just show her a photo of aeroplane you fly......worked with my girlfriend, she has been up in my friends aeronca champ, a friends Rans, an Ikarus c42(my training aeroplane) and went up in a flexwing .....waiting for a go in a helicopter now:)
Gla
Bdt
BDT, actually the Lady in reception is Chinese - spooky but true :)
Blackdogtaff
There's a lag between selling shares and then being able to move the funds.
As you're able to purchase shares before the cash has cleared, It might be worth calling Hl to ask if it's possible to transfer the funds over to your isa before the cash has cleared. Least they can do for not offering a bed and isa.
If you sell the SOU shares BGT. then you have the tax loss and you can make £25,000 on PRD with no capital gains.
Plus if you make an honest woman.of your girlfriend and get married, you can transfer assets to use up her allowance this year as well...a useful tool in.the armoury in the battle to keep your hard gambled cash to yourself....
Hiya Mem...and this from an incarcerated man who has taken to fantasizing about chinese takeaways and has developed a frightening obsession with lady in reception:) sorry about this and last few off topic posts everyone, Hope your hotel room isn't closing in Mem, and you'll soon be up in the blue... ..sky and Sp.
Gla
Bdt
Hi BDT,
Simple........... get a new Girlfriend :)
Thanks again Nicodemus...idea is.. sell/transfer as near as possible 40k before end of year, then another 40 at start of year.in total over 2 isa's 80k....also got 13k loss on Snd shares to plead with taxmans better nature....pity i'm retired now, as up until last year because i was merchant seaman i got 100%tax relief on my earnings (not shares etc, just salary) but every little helps.
Hiya Nicodemus, hmmmm.. and in meantime sp could rocket!! Also got added annoyance of opened an isa for girlfriend, which involves selling shares, proceeds going into our bank account, then transferring same to her Hl isa.. .this is turning into a can of worms also with worry of once sold, would i actually be able to purchase them back due to apparent shortage of shares? Slightly worrying at moment, can sell part of my other holdings to repurchase same amount/similar Prd shares at slightly higher price but am not in a position to purchase same amount again before selling to cover myself if that makes sense?
And thank you for speedy reply
Gla
Bdt
Ps. Blackdog, if you haven't already used your capital gains tax allowance up, make sure to sell at the end of this financial year, put the money in the ISA next financial year so you use up your CGT allowance.
In my Fund & Share I've got £11,000 PRD which cost me £6,000. I've already used up £6,000 of my £12,300 CGT limit so when I sell PRD I'll have made £11,000 and still be within the limit (that's obviously at current prices, hopefully we'll be higher by then but just illustrating a point)
Hi Blackdog. Glad you posted this cos I planned to do the same with our PRD shares I.e.. bed and ISA with H & L for myself and encourage my daughters to do same.
That is obviously no longer an option so be prepared to wait a day or two for cash to clear in your Fund & Share account before you can put it into your 2021 ISA and buy them back. No idea why it doesn't clear straight away it becomes available to buy straight away in your F & S account. May be a ploy to encourage more buying and discourage taking the cash for a holiday.
I've been desperate to have s conversation with them and my wife but she works six days a week and noticed that no longer do an evening help line. They used to, I phoned before at 20.00 when I had a TSX share query..again must be covid related.
Good morning everyone...am now in a position where i need some advice off someone who has done this as apart from general advice ..
Currently have my holdings in Hargreaves lansdown....and need to transfer quite a few shares to my isa....Hl do not currently run a bed and isa scheme due to covid and staffing levels(i think)...
Question is....once i sell my shares, i then have to transfer money to isa, then have to repurchase them or roughly same amount(allowing for spread of course)....so apart from my speed of typing out sells, transfer, buys.....would this be nigh on instantaneous, or is there quite a time lag between initial sell, to funds showing up in my Hl account, same for transferring funds to isa?
Any advice/pointers are greatly appreciated.
Hope that's plain enough ...
On other notes, now that the Labradors and myself have sobered up and calmed down, we are still not convinced that "no knock on" was right in yesterdays match.....but first try was well orchestrated by our fly half....(expecting some flak now) .
Welcome back Hulltiger and hope recuperation is quick and relatively pain free, and to Mem....incarceration will soon be over, i'm stuck in hereford with blue skies, perfect vis,no wind and can't go aloft for training due to lockdown restrictions.....ah well , will soon be over.
Good luck everyone
Morocco IS coming
Bdt