Share schemes, S&S ISAs & CGT - Help!

[Rob_B]

I'm trying to figure out the best way to deal with some shares that have just come out of a company sharesave scheme.

Basically I've hit the CGT limit for the year and have some shares with Computershare/Equateplus which I want to keep but in a tax efficient way. I've got a S&S ISA I opened this year with Monzo. Equateplus wants brokerage details to transfer any shares, which I don't have. Monzo say they only accept transfers from an existing S&S ISA, so am I out of options and will just need to keep them as-is and pay CGT when I eventually dispose of them?

I'm finding the info tricky to find for this specific circumstance.

Any help appreciated!

 

[slinxy]

aahh... you may work for the same company as me if you use Equateplus and it's been switched over recently.

Take the option and keep them as shares...
I just open a barclays investment ISA and then transfer 19.5k of shares over to it, or whatever ISA allowance you have left.
then sell the shares and transfer into another account... IF you have more than 20k of shares, transfer it to a normal account to move later, if it's under 20k then transfer to another ISA.
you can then top up the investment account by transfering another 19.5k shares... repeat until the 90 days or the all of the amount have been transfered.

A lot of online shares companies do not take sharescheme shares as they don't want the concentration of shares in the pool.

 

[Rob_B]

If you've got 19.5k shares then it's not the same company, I wish I had that many

I've taken the options as shares, sold a few (upto the CGT limit) I didn't realise you can now open more than 1 S&S ISA per year, I was worried I'd messed up by opening a Monzo one but seems not.
With the Barclays ISA is this their S&S one? Do you get the 'brokerage' details from them to give to Equateplus?

 

[Jim99]

It is theoretically possible, you might just need a more traditional broker (Monzo are far from a proper investment broker).

How do I make a SAYE or SIP transfer into AJ Bell? | AJ Bell

If you have a Save As You Earn (SAYE) or Share Incentive Plan (SIP) scheme, you can transfer the shares into an AJ Bell ISA. This transfer is a bit different to normal transfers. Here’s how it works:Step 1: Your SAYE or SIP provider will let you know if your scheme is coming to an end. They’ll...

www.ajbell.co.uk

Employee Share Scheme Transfers

What you need to know regarding how different Employee Share Schemes work. What options you have when the schemes mature and how to transfer shares into a Hargreaves Lansdown ISA and Pension.

www.hl.co.uk

IMO it's not worth debating the fees, service quality etc of AJ Bell vs HL vs Barclays etc, since once it's in you'll be free to migrate to any other provider you want - the key is getting them over quickly before your 90 days expire.

 

[Rob_B]

I already have an old SIPP with HL so that'd be convenient.

So looks like I need to open a Fund & Share Account as well as a S&S ISA all within 90 days (?) Seems HL needs paper forms through the post?!

 

[slinxy]

If you've got 19.5k shares then it's not the same company, I wish I had that many

I've taken the options as shares, sold a few (upto the CGT limit) I didn't realise you can now open more than 1 S&S ISA per year, I was worried I'd messed up by opening a Monzo one but seems not.
With the Barclays ISA is this their S&S one? Do you get the 'brokerage' details from them to give to Equateplus?

try 58k like some of my colleagues managed..

the instructions on how to setup a broker account are literally on the Equateplus banner at the top of the page when you log in
Yeah, you just need your account id and broker number... they give you that via their help page. If you want you can transfer it to mine lol

there is a 6 pounds per transaction cost and some % management fee..

you have 90 days from when you took the option to sort it out.

 

[Rob_B]

try 58k like some of my colleagues managed..

the instructions on how to setup a broker account are literally on the Equateplus banner at the top of the page when you log in
Yeah, you just need your account id and broker number... they give you that via their help page. If you want you can transfer it to mine lol

there is a 6 pounds per transaction cost and some % management fee..

you have 90 days from when you took the option to sort it out.

No banner for me.

From what I can see HL make you send a form in manually then they start the transfer rather than giving equateplus brokerage details, wow, modern.

 

[slinxy]

you should be able to contact H&L and ask them for
your broker account number,
clearing info
broker email
and Brokerage code or SWIFT/BIC code

that's all you need to set it up in Equateplus to do the transaction from the Equateplus end..

 

[Rob_B]

Hmm, the app is useless, transfers are easier on their desktop site but not sure whether to push or pull so I've dropped them a message

Thanks