RE: Provexis23 Jun 2021 23:08
I am with I.I. so you'll find the arrangements are as I described. Once set up, you'll find Bed and ISA in the Cash and transfer menu. The original sp when you bought the shares is only relevant for tax purposes, if you need to declare a profit or loss, just as if you had sold the shares and kept the cash. Henceforth, one of the benefits of the ISA, of course, is that you don't have to account to the taxman for the dealings inside it. The sp you get for the Bed and ISA shares will be determined on the day the deal is done, which might not be the same day you place the order, and the sp you get them back for will be slightly higher, meaning you'll have to pay a little more to get the same number of shares back, plus dealing charge. The spread will be much less than you would otherwise expect though. (See PXS trades at 1158 21st June - Shares were sold at 0.800p and bought in ISA at 0.801p even though they both show as sells here. In this case the number of shares differs in order to put the maximum value into the ISA, but in your case the number of shares will be the same and the values will differ slightly. I hope that makes sense. Btw, when your account is changed to I.I. your records should be transferred as well, but don't rely on it. Download any contract notes and statements needed for tax purposes before the switch, just in case.