Unclaimed shares in Standard Life

Sam_G_3

Hello everyone, not sure where to go from here but thought I'd post up and ask on these forums to get a bit of advice first.

Basically a few years ago I had a pension with Standard Life through a company I worked for, having changed employers a few times since then and not bothering to keep my pension going I kinda forgot all about it.

This morning I received a letter from a company called Georgeson's trying to trace me about unclaimed shares from a PLC. My previous address they quoted on the letter got me thinking about Standard Life and doing a quick search on Google it seems these guys take a cut of whatever money you're owed so I contacted Standard Life direct, after speaking to some really grumpy !!!! on the phone for 20 odd minutes trying to prove who I was and answering their 6 security questions etc. it transpires that I am entitled to just under 200 shares and am owed a divident payment of about £40, information on which I will receive in the post within 4 weeks apparently.

Now I've never been in a position where I've owned shares in anything before, so I'm not sure what I'm supposed to do next (the guy on the phone wasn't exactly helpful), do I have to keep these shares or can I sell them (should I sell them?).

I'm guessing I need to speak to some sort of financial adviser about this?

Also, what happens for tax purposes - do you pay tax on shares? Should I be declaring this information to HMRC? [sorry if my questions sound stupid - I really know nothing about shares and shareholding!]

One totally confused Sam :cool:

Seevin

Once you get your share certificates (or share statement, if the shares are in a nominee account), you can keep them or sell them as you see fit. If you need advice about which course you should take you will need to ask a financial advisor.

If you do choose to sell them, you can use any stockbroker who will make a charge. Computershare, standard life's registrar, also offer a dealing service, see https://www-uk.computershare.com/Investor/ShareDealing.asp

If you keep the shares you dont need to do anything except cash your dividend cheques every so often and vote at AGMs if you want. Remember that if you move house you need to tell the registrars otherwise you may get another letter from a company like Georgesons in a few years time.

Tax is deducted at source for dividends but I don't know enough to say if there will be any tax payable if you sell the shares.

Sam_G_3

Thanks Seevin, your post has been very helpful to me indeed!

tonygee_3

Standard Life shares currently £2.08 each