Share Dealing Discussion Area

Nick_C

Use an on-line broker, but if you are only talking about a single transaction, it won't make much difference who you use. For simplicity, start by seeing if your bank offers on-line dealing. I use Halifax. They normally charge £11.95 per trade, but they have a special offer once a month when you can trade for £3.95 between 12:00 and 14:00. You also pay .5% stamp duty if the company is based in the UK.

You shouldn't pay an annual charge for holding shares (unless they are in an ISA, which is unlikely to be appropriate for a £1K investment).

mashisback

Thanks for advice Nick.

My bank is expensive LLoyds being £15 per transaction. Looking round I have seen 'Ring395' @ £3.95 per transaction. Is this legit, is there a catch? I appreciate that you cant view online but this seems ideal for what i would want?

Also, how does the tax implications work? will i have to fill in tax forms each year for just this 1 investment? I actually am a sole trader so i do already fill one in but will this complicate it?

Thanks again

Ifts

mashisback wrote: »

My bank is expensive LLoyds being £15 per transaction. Looking round I have seen 'Ring395' @ £3.95 per transaction. Is this legit, is there a catch? I appreciate that you cant view online but this seems ideal for what i would want?

Ring395 is a legit service, its part of Jarvis Investment Management Ltd.

Ring395 - Telephone Share Dealing Service:

• Deal in UK shares
• Fixed commission of £3.95
• No hidden charges - (do be aware of their other charges i.e. Cash withdrawal fee £5.00 + VAT)

Also part of Jarvis Investment Management Ltd is their other nominee share dealing service X-O.co.uk (online access).

http://www.x-o.co.uk/ - buy & sell @ £5.95 (no cash withdrawal costs with X-O.co.uk)
There are no account opening fees, management charges or inactivity fees, you can trade in any quoted UK equity (but not foreign stocks or unit trusts).

Biggles

If Lloyds are only £15, which is cheap, I'd go with them. If you were a frequent trader, I might suggest otherwise, but it's still not bad.

If it's a one-off purchase and you really want to leave it there for years, keeping an eye on whether your online broker has suddenly introduced management charges for looking after it might be something you don't need, so if Lloyds give you a certificate, you can take it to any broker when the time comes to sell

The only tax involved would be Capital Gains Tax but, as you don't need to declare any gains below £10,900 in any year, you should be safe ;-)

Nick_C

UK companies pay dividends with a tax credit of 10%. If you are basic rate taxpayer, there is no additional tax to pay and you don't need declare the income (unless you are filling in a tax return for other reasons, in which case you should of course declare it).

If you are higher rate tax payer, then there is additional tax to pay on the dividends and you need to declare them to HMRC.

rail.link

Can anybody recommend a reliable broker for UK traded options, please ?

EdGasket

Ifts wrote: »

Ring395 is a legit service, its part of Jarvis Investment Management Ltd.


Ring395 - Telephone Share Dealing Service:

• Deal in UK shares
• Fixed commission of £3.95
• No hidden charges - (do be aware of their other charges i.e. Cash withdrawal fee £5.00 + VAT)

Also part of Jarvis Investment Management Ltd is their other nominee share dealing service X-O.co.uk (online access).

http://www.x-o.co.uk/ - buy & sell @ £5.95 (no cash withdrawal costs with X-O.co.uk)
There are no account opening fees, management charges or inactivity fees, you can trade in any quoted UK equity (but not foreign stocks or unit trusts).

x-o has been down all week; I haven't been able to trade online. When I tried to get through on the telephone (non-premium number), it was engaged. I didn't try the premium rate dealing number as I wasn't that desperate and figured there would be a long wait as the site was down. Not good though. No point having a broker that you can't trade with for days on end! If it is not working next week I am leaving x-o

Biggles

EdGasket wrote: »

x-o has been down all week; I haven't been able to trade online.

I have read that all brokers were affected to one degree or another by the mayhem following thousands of people who hadn't had shares before trying to sell their Royal Mail Group shares.

I didn't trade last week, so can't say how mine were affected.

Ologhai

Biggles wrote: »

I have read that all brokers were affected to one degree or another by the mayhem following thousands of people who hadn't had shares before trying to sell their Royal Mail Group shares.

I didn't notice any trouble with Interactive Investor ('iii'), but there may have been and I just missed it.

Nick_C

Had no problems with Halifax. (They were a couple of hours late crediting back the excess over £750 from the RM IPO, but trading was always up and running).