ADVICE PLEASE - Need a cheap/low cost share dealing account ?

grey_gym_sock

oh wait, i didn't read OP very carefully ... didn't notice you said c. £50 admin fees per year, as well inactivity fees.

what are the admin fees for? i don't get those with selftrade.

stylus360

I have just had a letter off Selftrade stating that they want £15 per stock to transfer, i have six so £90 in total.

The problem lies in that 3 of the stocks are free shares i have been given are are virtually worthless, i can not sell as amount/quantity is to small.

How do i get around this ?

Thanks

bowlhead99

As a general rule if you have shares which are uneconomic to sell or to transfer to a broker/ platform, you can donate them to charity. This avoids paying holding or transactions fees, you do some good to someone, and you can get tax relief on the current value of what you give away.

If you hold paper shares this is pretty easy as you just fill in a transfer form. If you hold your shares in an electronic nominee account with a broker you would have to ask if they have any options to allow you to donate them without being charged.

I'm speaking generally as I have never tried to do this with selftrade, I moved years ago.

IronWolf

x-o are probably the cheapest for uk shares
for foreign shares I found SaxoBank to be far and away the best

stylus360

bowlhead99 wrote: »

As a general rule if you have shares which are uneconomic to sell or to transfer to a broker/ platform, you can donate them to charity. This avoids paying holding or transactions fees, you do some good to someone, and you can get tax relief on the current value of what you give away.

If you hold paper shares this is pretty easy as you just fill in a transfer form. If you hold your shares in an electronic nominee account with a broker you would have to ask if they have any options to allow you to donate them without being charged.

I'm speaking generally as I have never tried to do this with selftrade, I moved years ago.

I will give them a ring tomorrow, they are not paper shares.

Cheers