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Sharesave to tax free wrapper advice please!

1 reply

KarmenPQZ · 05/10/2024 21:36

Hoping someone with more experience than me can offer some advice as I’m struggling a bit.

I have a sharesave that matures this month. I plan on exercising the options and the gain from what I put in (approx £10k) it to the current share price is approx £6k. I have no immediate need for the money I can see in the next 3-5 years so was going to keep the shares. I think I can transfer them to a pension (self select / SIP?). Or transfer them to a stocks and shares ISA? But for the later I need to sell and repurchase in the ISA apparently and then do I need to pay CGT on the gain I’ve already made?

also perhaps to complicate it slightly I somewhat miscalculated and paid in £5k into my ISA earlier this year thinking that would leave enough allowance for the shares to be transferred in. But given they’re worth approx £16k… unless they take a dip in the next couple of weeks I think I need to split some off?

any advise appreciated - don’t have many work colleagues close enough to ask and not many took up the scheme.

thanks

OP posts:
Ozanj · 06/10/2024 21:57

sharesave is exempt from cgt but not dividend tax so you should be ok. Just double check your rules

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