Share Certificates

ShowUsTheMoney

Hi all, recently transferred some shares from my sharesave into wife's name. She has now been sent a share certificate from capita. What do we do next? Ideally would like to put them in an online share dealing account so we can sell all/part of them when it suits. Is this possible? What's the process ? And any recommendations ? We bank with Lloyds .

george4064

It certainly is possible.

By transfer certificated shares into electronic form with a platform, the process is called 'lodging', as in lodging them into an electronic/online account.

All platforms who allow you to hold shares will let you transfer them in, at no cost. You will need to contact the platform to request a 'Stock Transfer Form' or a 'CREST transfer form', you will need to complete this based on the share certificate details and then send to the platform provider.

They will then transfer them to an electronic account for you, and you can hold them on their/sell them/bed & isa the shares.

However I'm not too sure on the T&Cs of sharesaves, but it may be possible (if within 90 days of your sharesave scheme maturing) that you will be able to directly transfer them to our wife's S&S ISA. But I would need someone more knowledgeable to confirm that.

You should make your own decision on which platform to choose, a good comparison website can be found here: http://monevator.com/compare-uk-cheapest-online-brokers/

Ifts

You could use someone like X-O.co.uk share dealing services (£5.95 per trade).

Open a Share Dealing account with X-O.co.uk (free to open and no annual account charges) then transfer your share certificates in to your account and sell them for £5.95 per share holding.

How do I transfer in stock that I hold in the form of certificates?

http://www.x-o.co.uk/how_to_use.htm#5

What markets can I deal in?

http://www.x-o.co.uk/how_to_use.htm#11

ShowUsTheMoney

Thanks for the replies both. Will look at the sites you have mentioned. Do you know if the capital gain is the full share value as they have been transferred over or is it still the difference between what I paid for them and what the Mrs sells them for ? Advice is appreciated

george4064

ShowUsTheMoney wrote: »

Thanks for the replies both. Will look at the sites you have mentioned. Do you know if the capital gain is the full share value as they have been transferred over or is it still the difference between what I paid for them and what the Mrs sells them for ? Advice is appreciated

Its the difference between the value of the shares when you transferred them to your wife and the sale proceeds.

Eco_Miser

george4064 wrote: »

Its the difference between the value of the shares when you transferred them to your wife and the sale proceeds.

From https://www.gov.uk/capital-gains-tax/gifts

Your spouse or civil partner may have to pay tax on any gain if they later dispose of the asset.

Their gain or loss will be calculated from when you or they first owned it.

So, the difference between the price the OP bought them, and the sale proceeds.

Otherwise, married couples could avoid CGT completely by gifting assets to the other who then sells, since there is no CGT on gifts to a spouse, and there would be minimal gain between the acquisition value and disposal value.