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This reply is probably of interest to UK investors

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Post# of 154946
(Total Views: 834)
Posted On: 06/30/2020 5:47:26 AM
Posted By: UK guy
Re: I_luv_cydy #39968
This reply is probably of interest to UK investors. My broker will not allow purchases of any OTC stock in our tax shelter (ISA). My only option is to await uplift to recognised exchange and then do a bed and isa transaction from my stocks and shares trading account to my ISA account. The yearly allowance at present is £20,000. That way I will still hold all of my shares and lock in any Capital Gains tax allowance for that tax year at the same time. I have purposely nor used any of my ISA allowance this year in expectation of uplift. Plan going forward is to do the same next tax year and so on until I actually decide to liquidate my position, which I trust will be many years in the future or will become a problem for my executors. My wife and I have separate trading accounts and separate ISA accounts and a joint trading account. We can each take full advantage of Capital gains tax allowances every tax year. Why this strategy? My eventual aim is to have as many shares as possible free of tax in the ISA and the remainder in the joint account and reap the benefits of tax free dividends which I anticipate will outstrip my original purchase price.


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