We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Help. I have shares and don't know what to do

Options
oooeeeeeeoooooo
oooeeeeeeoooooo Posts: 2 Newbie
in Savings & investments
Hi folks,
I've been given a Barclays share certificate and I'm clueless as to what to do. I'm clearly not an investor and I could do with the cash. The trouble is they're worth £80 and it looks like it's gonna cost me a huge chunk of this to sell the ruddy things.
Any tips on the cheapest way to get rid (that's simple enough for little old me)?
Thanks

Comments

  • Minrich
    Minrich Posts: 635 Forumite
    Seventh Anniversary 500 Posts Combo Breaker
    Nobody has bothered to answer ! How did you get them given to you , presume you work for Barclays? They will have a firm who deals with their shares , or maybe inhouse ?
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Im pretty sure you also would pay tax on the amount if you are a tax payer
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • brightonman123
    brightonman123 Posts: 8,535 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Maybe some cheap share dealing services around- have you asked local Barclays branch?

    Another option is to put into an ISA? Fees may be lower / waived?
    Long time away from MSE, been dealing real life stuff..
    Sometimes seen lurking on the compers forum :-)
  • p00hsticks
    p00hsticks Posts: 14,438 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    McKneff wrote: »
    Im pretty sure you also would pay tax on the amount if you are a tax payer

    Highly unlikely in the case. The main taxes associated with shares are Stamp Duty, which is payable when you buy more than £1,000 worth of shares, and Capital Gains Tax (CGT), which is potentially payable on any profit you make when you sell them.

    However, everyone has a personal CGT allowance of over 10,000 a year (completely separate and distinct from your personal income tax allowance so even if the OP was given the shares completely free of charge, they're very unlikely to be liable for CGT.
  • jimjames
    jimjames Posts: 18,667 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    McKneff wrote: »
    Im pretty sure you also would pay tax on the amount if you are a tax payer

    Can you explain what tax you believe is payable?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    jimjames wrote: »
    Can you explain what tax you believe is payable?


    No point now really, Poohsticks has explained why it is unlikely that you would indeed pay tax.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 21 March 2015 at 3:51PM
    Why not look up Barclays Stockbrokers and see what they'd charge for selling certificated shares?

    UPDATE
    https://help.stockbrokers.barclays.co.uk/help/settlement/Sell_Cert

    Now all you have to do is compare them with some of their competitors.
    Free the dunston one next time too.
  • oooeeeeeeoooooo
    oooeeeeeeoooooo Posts: 2 Newbie
    Thanks to all who have answered.

    Yes, I'm ex Barclays staff (oh the shame)

    I'll read up on your pointers, thanks
  • Aretnap
    Aretnap Posts: 5,755 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 22 March 2015 at 7:54AM
    Few months old so some of the numbers might not be bang up to date, but this might be a decent place to start

    https://www.lovemoney.com/news/36713/cheapest-ways-to-sell-paper-share-certificates
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture