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Finally moving the SIPP
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(This only relates to stocks; ITs, ETFs, and share investments)
Based on the migration to their new(ish) online trading platform for SIPP accounts and the RI trading charge of £1.50 per trade, I followed up with Fidleity to see how RI charges would be managed. The reason for this is that Fidelity (like most I believe) process/invest RI (monthly) in two stages; the first being the net contribution with a following transaction for the associated tax relief.
Under the new charging structure for RI (£1.50 per trade) this makes the cost associated with the tax relief amount a far higher percentage of the amount than I would ideally prefer. Currently depositing £200 so, £50 TR works out as 3%. Even the percentage for the £200 contribution is higher than I usually like (aim for less than 0.25% for dealing charges).
I may re-assess the RI, and potentially deposit as cash and then invest periodically.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0
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