The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Yes, my transfer is the same, showing at the original trade price, so my standard account is showing a significant loss against NNN.
I'm awaiting a reply from HMRC (can take up to 30 days)
But, a little research points me to The Individual Savings Account Regulations 1998, reg 34
https://www.legislation.gov.uk/uksi/1998/1870/regulation/34
Capital gains tax—adaptation of enactments
34.—(1) For the purposes of capital gains tax on the occasion when the title to account investments is transferred from an account manager to an account investor there shall be deemed to be a disposal and reacquisition by the account investor of those investments for a consideration equal to their market value at the date of the transfer.
Any knowledge on the tax implications of this?
Obviously, the loss sitting in the ISA has no taxable value/credit your overall portfolio (the downside of holding in an ISA, but you can't have your cake & eat it too), but now that the shares have been forcibly moved due to ISA rules, where does the loss sit?
Does it reside in the ISA, or does the loss move to your standard account?
I have no tax education, but my expectation is that the (considerable) paper loss made within the ISA has now been realised within the ISA, and the transfer to the standard account is done at the suspended price?
I'm clinging on to the hope that someone with tax education will tell me that I could now use the loss in NNN against my share account
I logged in to the app, opened the account where the shares are held, opened the side menu (3 stacked dots on the RH side) and selected Help&Guidance - Contact us online - Email us - online form
Just sent my request to reject all , and they emailed me 3 working days later to confirm.
I'd say a call would be quicker. 0345 606 0560
Voted Against
Thank you for contacting us.
I can confirm your voting options have been submitted for NNN.
If you have any further questions you may reply to this message by selecting the 'Reply Securely' button at the top of this
message or you can call us on 0345 6060560. Lines are open Monday - Friday from 8am - 9pm.
Kind regards
J.... R....
Lloyds Stockbroking
The interims will need to be released before 31st March.....
What is the going concern statement going to be? and that of the auditors
FRC guidance
14. Directors need to evaluate which one of three potential conclusions is appropriate to the specific
circumstances of the company. The directors may conclude:
• there are no material uncertainties that may cast significant doubt about the company’s ability
to continue as a going concern; or
• there are material uncertainties related to events or conditions that may cast significant doubt
about the company’s ability to continue as a going concern but the going concern basis remains
appropriate; or
• the use of the going concern basis is not appropriate i.e. the company has no realistic alternative
but to cease trading or go into liquidation or the directors intend to cease trading or place the
company into liquidation.