I have £7000 in a capital and investment bond, can this be transferred directly into a stocks and shares ISA without triggering any tax costings? Thanks in advance.
Dear Sir,
Please let hs know if this money is invested in India?
If yes, then it will surely trigger capital gain taxes and even if it is invested outside india, in my opinion logically it should trigger capital gain tax.
Please feel free to call/revert in case of any doubts
Thanks and Regards
Abhishek Dugar
CA CS B.Com
Dear Sir,
The amount invested should be redeemed and than only fresh investment can be made and capital gain arising our of sell of bonds shall have tax effect.
Hello Sir,
Could you provide more info about the bonds you have invested your money in and which stocks or shares are you planning to buy.
I assume that your investments are made in India.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP