Moving shares I already own into an ISA?

[Jonny_]

Probably a numpty question but I'm going to ask anyway...

I'm trying to reduce my potential exposure to CGT as our illustrious government continues its tax raid.

When my ISA allowance for next tax year becomes available, I want to transfer about £12k-worth of shares that I currently own into the ISA. (The other ~£8k will be taken up by shares from a sharesave that has just matured.)

I believe that in order to do this I have to do a "Bed and ISA", whereby the shares are sold and then immediately bought back via the ISA.

Is this the only means available? Or is there some way to directly transfer shares into an ISA without the cost of the B&I process? (I presume not as otherwise the B&I process would not need to exist.)

Assuming B&I is the only option, are there any pitfalls to watch out for? Any particularly good value (or indeed poor value) providers to look out for (or avoid)? I'm as tight as a ducks bottom and the bankers are already rich enough...

Cheers!

[Mr Pointy]

How are the shares held at he moment? As paper or in a Crest account?

I don't think you can do an in-specie transfer of shares into an ISA & you will probably get hit with selling charges, buying charges, & stamp duty, although Hargreaves lansdown let you off the selling charges.

[Jonny_]

Thanks, that's useful to know, I'd entirely overlooked the stamp duty on repurchase. Should only be about £60-worth though.

Shares are electronically held rather than paper certificates.

[xeny]

Depending on volatility and 2022-23 CGT allowance availability, you could consider selling at the very end of this tax year and purchasing right at the beginning of the next to keep next year's CGT allowance available if you have any other unsheltered shares.