I have got 2444 NGRID shares. How do I transfer the shares to an ISA?
30 January 2023
Question by Julie
I have got 2444 NGRID shares but not held within a ISA wrapper. I know in April the income tax will have to be paid if you receive more than £1000 in dividends per year. How do I transfer the shares to an ISA? I have not paid any money into an ISA for the 2022/23 Tax Year.
Answered by Lisa Caplan
You can move the shares into an ISA. Essentially you will need to sell and rebuy the shares. As the allowance is £20,000 each year, you can move £20,000 this tax year, (before April 4) and the rest in the following tax year(s).
Don't forget though, that if you have made a profit on the shares in excess of the annual allowance of £12,300, you will have to pay capital gains tax.
I hope this helps.
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