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27 Sep 19, 09:54 PM |
#11
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Imagineer
Join Date: Oct 09
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The question as to whether an ISA is best for you cannot be answered on a forum, but by a financial advisor after he is fully aware of your personal circumstances.
The facts are the Capital Gains Tax exemption of £12,000 in the 2019/20 tax year is available to us all, and the dividend exemption of £2,000 also avl to us all, before any isa is considered, plus the ability to split shares 50/50 with your spouce. Disney332
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27 Sep 19, 09:54 PM |
#12
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Guest
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27 Sep 19, 10:06 PM |
#13
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VIP Dibber
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Steady income at 160 so why change to an isa, keep as you are, as long as the shares are in your name, tax free income imo
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28 Sep 19, 01:23 PM |
#14
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Imagineer
Join Date: Feb 13
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If these are single shares then that is VERY high risk. If you want to be inn equities, sell then and purchase a fund that diversifies your investment. This is the number one rule of investments.
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28 Sep 19, 02:25 PM |
#15
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Guest
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Yes, single shares.
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28 Sep 19, 06:58 PM |
#16
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Imagineer
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It appears to me that isa wrapping this would be a good idea if you want to hold the investment - if they grow in value, and in later years you sell, they may exceed CGT threshold and cause you some issues.
In order to bed and isa, you need to sell them and buy them back under an isa wrap. Two points:- 1) selling paper based certificate shares always costs more so first I would transfer them to electronic first - should be a simple CREST form. 2) I would consider if you really want to buy single stock back - it’s a big risk with all eggs in one basket - so it may be better to have an isa wrapped investment fund which will spread the risk. I assume that you haven’t already used your isa allowance this year? You only have 20k that you can protect regardless of whether you invest shares or cash... |
28 Sep 19, 07:10 PM |
#17
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Imagineer
Join Date: Oct 09
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The shares are 10k in value.
The cgt calculation upon sale is anything in excess of £12k gain OP has the ability to transfer 50% to wife without tax implication. Shares need to reach £34k (existing value plus 24k) before tax is a problem. Ie over treble in value. The divs are tax free up to 2k per annum I consider it unnecessary... period. Disney332
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28 Sep 19, 08:42 PM |
#18
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Imagineer
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28 Sep 19, 09:26 PM |
#19
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Imagineer
Join Date: Oct 09
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Totally agree, but you need to consider length of hold and potential of the company to grow.
Both unknowns in the context of this thread, but 9 times out of 10 a tax liability would not arise. Disney332
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