Can switch investment from taxable to NISA?

[Max]

A purchase I made into a certain popular fund about a month ago is listed in my taxable account, rather than NISA. I expect I forgot to tick the NISA box. As tax hasn't come into play yet, can I ask the broker to shift it over to NISA?

[Tsumitate Wrestler]

A purchase I made into a certain popular fund about a month ago is listed in my taxable account, rather than NISA. I expect I forgot to tick the NISA box. As tax hasn't come into play yet, can I ask the broker to shift it over to NISA?

No. You need to sell it and rebuy. Unless you have hit a windfall, 20% of any gains will not amount to that much.

Or simply leave it in your taxable account, and buy with new funds in your NISA.

[Max]

Thanks for your reply. Yeah, I'll just leave it in taxable, as it's only 6 man.

[Max]

So, I still have this 60,000 in taxable. How will the tax be taken from it? Will it happen automatically, or do I have to do something? Also, how is it entered on the tax return? Any advice from knowledgeable people gratefully received.

[beanhead]

So, I still have this 60,000 in taxable. How will the tax be taken from it? Will it happen automatically, or do I have to do something? Also, how is it entered on the tax return? Any advice from knowledgeable people gratefully received.

No tax unless you sell it and there are gains.

How the tax is assessed depends on the specifics of how you bought it. Details are needed.
Please share details of the purchase if you want a clear answer.

[Max]

You have answered my query with your first sentence. I don't plan to sell it, so tax isn't an issue. Thank you very much for your help.

[beanhead]

You have answered my query with your first sentence. I don't plan to sell it, so tax isn't an issue. Thank you very much for your help.

Good stuff.
No taxes on just owning an asset or on unrealized 'paper' gains. Just when you sell and actually realize a gain/profit.