When setting up your new Stocks and Shares ISA with Nutmeg, you have a choice as to whether or not you want to subscribe the value of your existing investments you already have with us into the new ISA.
We can transfer the value of your current investments in a Nutmeg general investment account into your new ISA, up to your ISA limit.
Alternatively, you can instruct us to keep your present investments in the taxable portion of your portfolio, and we will only apply new contributions that you make to your ISA.
If you choose to transfer, here's how it works
Once you've selected your choice we'll handle the transfer for you.
At the next investment cycle, you will see a sale of your investments to generate cash (ISA rules don't allow us to directly transfer existing stock into an ISA). We'll then immediately repurchase the stock in your ISA. This process is commonly referred to in the investments industry as a 'Bed and ISA'.
We complete this process during the same trade cycle but it can take up to three working days to show on your dashboard.
Please be aware that as we would be selling your existing holdings, there may be capital gains tax implications for you. We can't provide advice on tax, so if you're unsure it's best to consult an independent financial adviser.