Transfer of General Investment Account

General
1

Hi Folks,

Is it possible to transfer a General Investment Account from another provider to Nutmeg to avoid Capital gains tax withdrawing the money and then reinvesting it into Invest Engine?

2

Hello,
Kindly note that InvestEngine is not an advisory service, therefore we cannot provide you with any advise regarding your taxes.

Still, we don’t currently offer in-specie transfers for General Investments, unfortunately. The only way to process them at the moment is by selling your holding with one provider and re-invest from your bank account to another provider.

We are working on introducing in-specie transfers for GIA, however. Be sure to keep an eye on our updates.

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3

Hi @waterishail - Thanks for posting - its really helpful to know there’s demand for these transfers.
We’ve done a lot of work on the GIA in-specie transfer already but its always a balance when prioritising projects. I’ll try and keep you posted when we have a date for this.

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4

Thanks Tom,

I am not necessarily interested in transferring the stocks, rather just transferring the cash directly from Nutmeg to InvestEngine.

Look forward to the new features, your product is amazing for ETF’s

Paul

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