Selling Santander (ex Abbey) Shares...

betlarge · 23 March 2007 at 11:05AM

I hold a thousand or so Grupo Santander shares that I wish to sell as cheaply as possible. Should I go through the group to sell them (they are held in the group’s nominee account) or transfer them to an online nominee account (that incurs an 11.00 transfer charge)?

Are there any Spanish taxes to pay? If so, can these be avoided?

frugalmacdugal · 23 March 2007 at 8:04PM

Hi,

sorry can't help you though I did find this wee bit, seems Spanish taxes are a problem. Have a look in at your local Abbey branch.

Can I just ask you how you got on with Satander dividends, because I'm trying to decide what to do with my Scottish Power shares, who are being taken over by Iberdrola, it seems an awfa rigmarole.

prudryden · 23 March 2007 at 8:10PM

frugalmacdugal wrote: »

Hi,

sorry can't help you though I did find this wee bit, seems Spanish taxes are a problem.

Can I just ask you how you got on with Satander dividends, because I'm trying to decide what to do with my Scottish Power shares, who are being taken over by Iberdrola, it seems an awfa rigmarole.

You are going to get £4 per share and 0.1646 shares of Iberdrola, although there is an option to try to get more shares of Iberdrola. Unless you plan on buying more Iberfdrola shares, it will be a very small holding relative to what you had in Scottish Power, I would probably sell.

prudryden · 23 March 2007 at 8:12PM

betlarge wrote: »

I hold a thousand or so Grupo Santander shares that I wish to sell as cheaply as possible. Should I go through the group to sell them (they are held in the group’s nominee account) or transfer them to an online nominee account (that incurs an 11.00 transfer charge)?

Are there any Spanish taxes to pay? If so, can these be avoided?

Shouldn't be any Spanish cap gains taxes.

Selling Santander (ex Abbey) Shares...

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