Hargreaves Lansdown

john0

i have just started to invest through HL, i currently hold a vanguard fund and lindsell train global equity in a isa wrapper.

i stupidly bought some shares the other day, only £450 worth, without looking at the t&C’s. can you correct me if i am wrong, but would it be cheaper for me to move the shares to a different platform, or now that i have bought them does it not matter? i paid £11.95 for the trade, stupidly assumed it was 5.95. now that i have shares in an isa wrapper does that mean i will be charged an extra £45 per year to hold them?

thanks in advance

srcandas

john0 wrote: »

i have just started to invest through HL, i currently hold a vanguard fund and lindsell train global equity in a isa wrapper.

i stupidly bought some shares the other day, only £450 worth, without looking at the t&C’s. can you correct me if i am wrong, but would it be cheaper for me to move the shares to a different platform, or now that i have bought them does it not matter? i paid £11.95 for the trade, stupidly assumed it was 5.95. now that i have shares in an isa wrapper does that mean i will be charged an extra £45 per year to hold them?

thanks in advance

Stay cool johnO :cool: You may of well got a better price than on some cheaper platforms so £11.95 is not the end of the world.

For sure I don´t trade shares in a wrapper

Hl say " The annual charge to hold shares and other investments is just 0.5% (capped at a maximum of £45 per annum)." but 0.5% of what I'm not too sure??

Always found hl very helpful on the phone so worth giving them a ring. If however you will be charged this year I'd let it ride and see if you get a good selling opportunity in the next 12 months.

Do ask when the year ends and make a note to jump well in advance.

All part of the learning experience :beer:

grey_gym_sock

it is 0.5% of the value of the shares, i.e. about £2.25 per year.

i think transferring out would cost £30 (inc. VAT) per holding.

so not the best place to buy individual shares, but probably best to leave it there now.

Stompa

srcandas wrote: »

Hl say " The annual charge to hold shares and other investments is just 0.5% (capped at a maximum of £45 per annum)." but 0.5% of what I'm not too sure??

It's 0.5% of the value of the chargeable holding, so on a holding of £450 they'll levy a charge of around 19p per month.

john0

well thats good news thanks for all your replies. think i can cope with 19p a month. does anyone know the answer to whether or not i have to pay £2 a month on both my vanguard and lindsell, or can point me in the right direction?

grey_gym_sock

http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/l/lindsell-train-global-equity-income
"Platform fee: Free" i.e. no £2 per month for lindsell.

john0

thanks grey sock as helpful as ever, i wasn’t sure if it would be anywhere else, but i guess that the TER is 1.5%.

i need to get some gilts and bonds in to my portfolio, however aren;t gilts at an all time high

mr_fishbulb

You can only pay into one stocks and shares ISA a year anyway.

I have a H&L ISA and I put monthly payments into a couple of funds. I also occasionally buy shares, so I have to put them in the same ISA.

srcandas

I'm overseas or I'd ask hl but if someone knows:

April I buy £1000 of BP
June I sell BP for £1200
Nov I buy LloydsTSB £1000
Feb I sell LloydsTSB £800

I pay 0.5% of ????

:beer:

Stompa

srcandas wrote: »

I'm overseas or I'd ask hl but if someone knows:

April I buy £1000 of BP
June I sell BP for £1200
Nov I buy LloydsTSB £1000
Feb I sell LloydsTSB £800

I pay 0.5% of ????

According to:

http://www.hl.co.uk/faqs/isa/managing/what-is-the-annual-management-charge-in-the-vantage-stocks--and--shares-isa

For the majority of funds there is no additional annual management charge for the Vantage ISA. For a minority of funds (mainly tracker funds) there is a monthly platform fee of £1 or £2. For shares, most investment trusts and corporate bonds, gilts, ETFs and other investments the annual management charge is 0.5% (capped at a maximum of £45), which is deducted on a monthly basis.

The charge is deducted monthly in arrears based on the value of your account at that time. The charge is first taken from income; if there is no income it is deducted from cash; if there is insufficient income or cash it is taken from any accrued loyalty bonus. If there is not enough money to cover the fee it will remain outstanding until further monies are received into your Vantage account. If outstanding fees continue to accrue, we may contact you to request payment.

mr_fishbulb

srcandas wrote: »

I'm overseas or I'd ask hl but if someone knows...

Are you classed as a "resident for tax purposes" in the UK? If you are overseas, and not a "resident for tax purposes", you can't pay into an ISA.

Q. Can I have an ISA?
A. To open an ISA you have to be aged 16 or over if the ISA is a cash ISA or 18 or over if the ISA is a stocks and shares ISA. You also have to be resident and ordinarily resident in the UK for tax purposes (ask your tax office if you are in any doubt about this).

Please see information about ISAs for those aged under 18 and the options available when you reach 18.

You also have to be resident and ordinarily resident in the UK for tax purposes (ask your tax office if you are in any doubt about this), or a Crown employee, such as a diplomat or a member of the armed forces, who is working overseas and paid by the Government. The spouse, or civil partner, of one of these people can also open an ISA.

Please see information about moving abroad.

You cannot hold an ISA jointly with, or on behalf of, anyone else.

http://www.hmrc.gov.uk/isa/faqs.htm