Transferring a Stocks and Shares ISA
You can transfer your stocks and shares ISA to Itshenderson by applying online or by post. You will also need to send us a signed Crest Transfer Form for each ISA you're transferring, so that we can contact your current ISA manager to initiate the transfer. You can download the ISA Transfer Form and the Crest Transfer Form from the Literature Download page of our website.
If you hold unit trusts or OEICs in your ISA you may have to convert your ISA's value into cash and place it into your Dealing Account before transferring to Itshenderson. Some ISA Managers also insist on this for other investments such as investment trusts or UK equities. Please call Customer Services on 0845 712 5432 to discuss this before applying.
Itshenderson will not charge you for transferring your ISA but your existing plan manager might. There is a fixed annual management fee of £25 for your ISA account but is regardless of the number of years' plans included. £12.50 is collected half-yearly in April and October. The only other costs associated with Itshenderson will be dealing charges. Please visit our Rates and Charges pages for more information.
The benefits of transferring your ISA to Itshenderson include convenience of holding all your investments in a single account and login. When you open an ISA with us, we shall automatically open a Dealing Account for you so that you can deal in stocks and shares outside of your ISA as well. And you won't pay any annual fee for your Dealing Account.
The transfer process will start as soon as we receive your signed transfer form. We'll do our best to complete the transfer within 30 days, which is considered industry best practice. Please note that transfer times can fluctuate depending on the time of year and the ISA manager involved. There may also be a short time period when you may not be able to deal, depending on the advice of your existing ISA manager.
Transferring Other Saving Schemes
These include a savings-related share option scheme, approved employee profit-sharing scheme or employee share ownership plan.
If you're in any of the above schemes, and provided that the shares can be settled through Crest, you can transfer any shares or depository receipts you receive into the stocks and shares component of an ISA without having to pay Capital Gains Tax.
The value of your shares at the date of transfer counts towards the annual ISA subsciption limit. In the current tax year you can transfer up to £7,200 worth of shares, assuming you make no other payments into an ISA during the tax year.
The following documentation needs to be provided when transferring in different saving schemes:
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Savings-related share option scheme: you must provide a copy of the Notice of Exercise of Option to prove that the shares have been transferred from this type of scheme.
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Approved employee profit-sharing scheme: you must provide a copy of the Shares appropriation notice and certificate of beneficial ownership. If you have requested that the shares be transferred to you before the official release date, you must also provide a copy of the written direction to the trustees to release the shares.
For shares held within an employee share ownership scheme, you must make the transfer within 90 days after the shares ceased to be subject to the plan.
The following time limits apply when transferring in any of the aforementioned savings schemes
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Savings-related share option scheme: you must transfer the shares into an ISA within 90 days of the exercise of option date.
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Approved employee profit-sharing scheme: you must transfer the shares into an ISA within 90 days of the earlier of:
- the date that the investor directs the trustees to transfer ownership of the shares to him or her, or direct to the ISA manager, and
- the release date. The release date is the third anniversary of the date of appropriation, which can be found on the Appropriation notice.
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Employee share ownership scheme: you must transfer shares from an employee share ownership plan into an ISA within 90 days after the shares ceased to be subject to the plan.