Open an ISA with your existing investments
With investment, your capital is at risk.
Bed and ISA transactions allow you to sell existing investments and use the proceeds to open or top up an ISA account. You can then buy the same investments back, choose other investments or simply hold the cash within your ISA.
Bed and ISA transactions let you take advantage of your tax-free ISA allowance even if you don’t have any new money to invest. In an ISA any interest from cash savings and income from dividends are free from income tax, and your investment gains are safeguarded from capital gains tax.
When you sell your investments to begin your Bed and ISA transaction you may have to pay capital gains tax if your gains for the current year exceed the annual allowance (£12,300 for the current year). If you make a loss, this could offset any other capital gains you have made this year or in the future.
Bestinvest clients can carry out a Bed and ISA by following three easy steps:
Sell the existing investments in your Investment Account up to the value you would like to move into your ISA, making sure you won’t exceed your ISA limit.
Once the cash is visible in your account (usually 3-4 days later), call our team on 020 7189 2400 and ask them to transfer the cash from your Investment Account to your ISA.
Log in to your account the following day and you can reinvest the cash into the investments of your choice.
Clients of the Tilney Investment Advisory Service or Managed Portfolio Service should contact their relationship manager to carry out a Bed and ISA.
Speak to our experts for more information on ISAs or to find out about our Stocks & Shares ISA.
Our friendly team can help with any concerns you have about ISAsCall us on 020 7189 9999
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