selling shares ?

oops_a_daisy

Hi I was wondering if anybody has experience with shares - I do not!. I have been saving through a sharesave scheme at work and I have just recived the documents giving me the options to either put the savings into shares at a set rate from 3 years ago less 15%, or take part of the savings and part into shares or the third option is to just get the savings back.

Firstly I need to find out what the shares are worth now - how do I do that ?
Secondly if I do go along the route of getting the shares how do I then sell them and what would the implications be in selling them ? ie would there be tax implications and would there be a fee to sell them

I am also not sure if it would be best to put them into an ISA - but I have a bank loan at the moment so thought it would be best to get the shares and sell them to pay off the loan - the loan is at 6.9%

I think that the share price has almost doubled so I have pretty much made my mind up to sell them but I havent got a clue how to do it - any advice would be appreciated. Thanks.

ReportInvestor

Google the company's name and "share price" and you will come up with an answer.

You can't transfer them into an ISA. You have to sell them outright and realise cash.

Regarding Capital Gains Tax, you have about a £8,800 annual allowance which is tax free. This refers to your gains, not the sale price.

oops_a_daisy

thanks report investor - how do I go about selling them ?

megan050903

oops_a_daisy wrote:

Hi I was wondering if anybody has experience with shares - I do not!. I have been saving through a sharesave scheme at work and I have just recived the documents giving me the options to either put the savings into shares at a set rate from 3 years ago less 15%, or take part of the savings and part into shares or the third option is to just get the savings back.

Firstly I need to find out what the shares are worth now - how do I do that ?
Secondly if I do go along the route of getting the shares how do I then sell them and what would the implications be in selling them ? ie would there be tax implications and would there be a fee to sell them

I am also not sure if it would be best to put them into an ISA - but I have a bank loan at the moment so thought it would be best to get the shares and sell them to pay off the loan - the loan is at 6.9%

I think that the share price has almost doubled so I have pretty much made my mind up to sell them but I havent got a clue how to do it - any advice would be appreciated. Thanks.

Firstly you can get a quote from either the London Stock Exchange website, advfn website or even ceefax. Without knowing the ins and outs of the sharesave scheme you are in or even what shares you have, I cannot say whether its best to sell or keep them.

However, if you do decide to sell them you will most probably receive information on how to sell the shares via a low cost dealing service. A lot of Companies organise these in order that their employees can sell their shares as cheaply as possible. If not, then you can sell shares through most high street banks and even online.

If you need any further info, feel free to pm me as this is my line of work so should be able to help.

crossleydd42

You should consider the option of selling half and keeping the rest to take advantage of future growth. If they double again in time, sell another half etc.

ReportInvestor

A good idea.

Although individual shares are risky, they don't have any of the charges associated with funds if you hang on over time.

So they can be winners if they match the index or better.

And "Run your winners" is an old stockmarket saying.

ReportInvestor

Join Squaregain and you can sell for a flat fee of £12.50 which isn't bad

jonesMUFCforever

ReportInvestor wrote:

Google the company's name and "share price" and you will come up with an answer.

You can't transfer them into an ISA. You have to sell them outright and realise cash.

Regarding Capital Gains Tax, you have about a £8,800 annual allowance which is tax free. This refers to your gains, not the sale price.

If you are saving in a regulated share scheme then it is possible to put them in an ISA provided you do it within 90 days of obtaining the shares.
They wil take your share certificate invest £3k (max) into the ISA and then provide you with a balance certificate for any left over shares or cash if you prefer.

oops_a_daisy

the shares have just about doubled and have been going up since I started this 3 years ago. I have read through the information that I have been sent and it looks as if I can either sell them in America ( cheapest option about £16.00 ) or sell them through Barclays ( cost £45.00 ) if I sold them in America I would be paid in dollars so that would also depend on the exchange rate aswell. It is difficult to decide what to do because I would like to pay off my bank loan but it really isnt a big problem paying the monthly payments and I wouldnt get the shares this low again as there were company problems 3 years ago when the rate was set so these shares will make the most. The shares that I will get in subsequent years will make less as the share pirce has gone up.

frankie

I just need a one off selling facility.

What if I just wanted to sell my few BT shares?

I wouldn't have a need to use the dealing account again.

ReportInvestor

frankie wrote:

I just need a one off selling facility...to sell my few BT shares?.

If you don't want to join Squaregain (and there's no major reason not to - even for one transaction) then you could sell your shares at any High Street Bank or Nationwide BS.

Nationwide's terms are:
1% of the value of each trade, subject to a minimum of £15 and a maximum of £75.
Call 0131 240 0690 during working hours.

That's more expensive than Squaregain .