Frequently Asked Questions

Bed & ISA

Under HM Revenue & Customs rules a direct transfer of shares into an ISA is not permitted in most cases. To transfer shares into an ISA you will need to perform a Bed & ISA.

This term refers to selling your holding, moving the cash into your ISA and then repurchasing the shares. The sale and the purchase are made immediately after each other to limit your exposure to price movement.

Bed & ISA is only available using our telephone service and requires you to have both a Trading Account and ISA. These trades are subject to our standard telephone commission for both the sale and purchase.

Share Save/Save As You Earn (SAYE)

The only exception to the rules regarding transferring shares into an ISA is if you have shares in a company Share Save/SAYE scheme.

Shares released from these schemes can be transferred directly into an ISA as long as you request the transfer within 90 calendar days of the stock being released from the scheme. If you wish to deposit Share Save/SAYE shares into your ISA please return the following documentation to our address below.

1. An ISA application form (only required if you do not have an account already)
2. The share certificate(s)
3. A completed Crest Transfer Form
4. Written instructions
5. The Notice of Exercise*

*Also named a "Letter of Appropriation", this can be obtained from the administrators of the Share Save scheme of which you are a member. The letter must contain your name and address, reference the fact that your shares have come from a share save scheme, the number of shares that were released from the scheme and the date that they were released from the scheme.

Structured Products
TD Waterhouse
Exchange Court
Duncombe Street
Leeds
LS1 4AX