iWeb - are they okay?

steelbru

cloud_dog wrote: »

Hi
Just to be clear are HL increasing / changing their pricing after 5th April 2015 or is their pricing structure not good for you because of what you are looking to do investing wise?

There have been no announcements of changes to H-L's charging structure.

bertpalmer

cloud_dog wrote: »

Hi



Just to be clear are HL increasing / changing their pricing after 5th April 2015 or is their pricing structure not good for you because of what you are looking to do investing wise?

I'm not aware of any price rises, more to do with he fact that it's based on the amount of money you hold with them. I don't really want to add anything extra. But prefer to be charged on a fund level with iWeb.

inflationbuster

I'm with iWeb and they are part of Halifax. It's a basic platform but does the job for £5 a trade.

I use it as well as Interactive Investor to spread my cash.

Michael_Nottingham

I have a SIPP with iWeb.

Website is very basic but as I don't trade the account that doesn't bother me.

I must admit I wasn't impressed that when transferring in they kept referring to my SIPP as an ISA! But it all worked ok in the end.

DesG

R34GTT wrote: »

Is this new? I used the Bed'n'ISA service with iWeb a year ago with no problems, they managed to do it with a miniscule spread compared to normal trading so I hardly lost any shares.

I couldn't find anything on their website, so I asked online suppoort and they confirmed that they do not provide the service and I was on my own for selling, getting money transferred and buying.

If you have any details that are different I'd love to get details before the start of the tax year.

bowlhead99

Rollinghome wrote: »

The other consideration for the non-ISA funds is CGT. I saw it said on the this board recently that selling and rebuying (if over CGT allowance) could trigger a tax charge.

My own understanding is that this isn't the case due to the "30 day rule" - meaning that if any asset is re-bought within 30 days then the sale is ignored for CGT purposes. But if anyone can show differently then would be interesting to hear about it.

It's not "ignored" within the 30 days but the buy and sell are matched.

What happens is e.g. you have 1000 units of a fund you bought in 2014 for 50p each, that you sell in Feb 2015 and rebuy later in Feb or March 2015; the sale of 1000 units at say 99p is matched with the purchase of 1000 units at 98p or 100p or whatever, not the original 50p. You are still carrying forward 1000 units with a cost of 50p. But you may have a capital gain or loss of £10.

Also if you don't buy back quite as many units you will still owe the CGT on the ones you didn't buy back.

Finally if you sold Fund 1 class A but what you bought back is Fund 1 Class C then that's not the same asset so the rebuy isn't matched.

So, you have the right idea and the ups and downs across funds will hopefully just cancel each other out, but you can't ignore it - unless you have way more allowance than you need and the total value of proceeds isn't high enough to declare.

R34GTT

DesG wrote: »

I couldn't find anything on their website, so I asked online suppoort and they confirmed that they do not provide the service and I was on my own for selling, getting money transferred and buying.

If you have any details that are different I'd love to get details before the start of the tax year.

Sounds like online support person wasn't so knowledgeable, though they're correct in that you can't do it online.

I had to do it over the phone, they can normally do it while you wait if you do it during trading hours. 0113 2391275 is their number.

I'll be doing the same in April.

SilveradoJosh

I was with H-L for about 4 years but left recently for reasons other than price. I joined Iweb in Dec 2014 and I am absolutely very happy with the platform. It is basic as others have said but as for me I do my research on other web sites. I have made, since I joined, about 40 transactions and have had no problems whatsoever. I would definitely recommend them. The only problem or downside I have encountered is the fact that they do not allow joint accounts. Overcame this by having DH open an account and linking them so I can do the operating

Chickereeeee

R34GTT wrote: »

Sounds like online support person wasn't so knowledgeable, though they're correct in that you can't do it online.

I had to do it over the phone, they can normally do it while you wait if you do it during trading hours. 0113 2391275 is their number.

I'll be doing the same in April.

That is what I did as well.

C

Tildia

I-web is who I use and they seem okay.
Never used anybody else but iweb don't charge a yearly thing, so if I wanted long term buy-forget investments I dont have to worry about loosing a set amount per year.