Hargreaves Lansdown25 Jan 2019 13:32
Answer from them on what happens with my holding
Once a company has been delisted, your shares still exist but can no longer be held in the Stocks & Shares ISA.
This is because HMRC regulation states that for a stock to be eligible to be held within an ISA, it must be listed on a recognised exchange.
The delisted shares can either be transferred to an HL Fund & Share Account or withdrawn as share certificates.
You can instruct either of these options by secure message to us detailing your instruction.
If you do wish to withdraw the certificates please note an administration charge of £25 will be charged for each share certificate produced. If the withdrawal will leave a value of less than £50 in your account, automatic account closure will be triggered and our account closure fee is £25 + VAT.
Please note if you do nothing they will eventually be moved into your HL Fund & Share Account although I cannot confirm a definitive timescale for this.
Unfortunately when a stock is de-listed and subsequently removed from your Stocks & Shares ISA, you will lose this portion of your ISA allowance, regardless of when the contribution was made.
You will not be able to subscribe cash to replace the value of the shares removed from your ISA.
Once the shares have been moved into your Fund and Share Account or withdrawn to certificated form, they would, at this point, lose the ISA tax wrapper.
Please note that the cost of acquisition in the Fund & Share Account/of the certificated holding, as appropriate, is deemed to be the value on the date the stock was withdrawn from the ISA and transferred outside the ISA wrapper.
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