Share Dealing Discussion Area

Malthusian

johnwood2017 wrote: »

Is it better to TRANSFER half the shares, or put the certificate in joint names? Does this affect the CGT allowance or is it generally the same?

Transferring half the shares into her sole name gives you more flexibility if, say, she has capital gains of her own so you want to sell 5,000 shares in your own name and 3,000 in hers. If there's no consideration like that involved, then transferring all the shares into joint names usually cuts down on paperwork.

If in joint names, is the original cost also split?

Yes. So either way, if you sold 40k of shares in joint names, or 20k each (makes no difference), you would each have a gain of 20k - 9k = 11k.

cloud_dog

johnwood2017 wrote: »

A recent ShareSave scheme has matured turning £18k into shares now worth approx £50k and in order to make best use of CGT allowance for both myself and my wife, I was going to transfer half into my wife's name.
However, some queries:

Is it better to TRANSFER half the shares, or put the certificate in joint names? Does this affect the CGT allowance or is it generally the same?
Essentially having 100,000 shares in joint names (and a joint trading account) is easier to manage rather than 2 x accounts with 50,000 shares in each.

If in joint names, is the original cost also split?
e.g. the cost of the shares was £18k in my name only. If I sold £40k of shares (£18k cost + £11k my CGT + £11k wife CGT), would the tax office see this simply...
Or would the tax office see this as selling £20k worth each with my CGT being £18k cost + £2k and therefore zero tax; but my wife selling £20k with £11k CGT allowance and £9k as being taxable?

Hope this all makes sense...

Is this a qualifying scheme that will allow you to transfer up to £20k worth in to an ISA; do you have available space in this years ISA allowance?

Mulder40

My partner has worked for KFC UK for 19 years. In that time he has gained some shares. He spoke with Merrill Lynch in America 2 weeks ago on 2 occasions. On Saturday 22nd July he received a letter from them saying they have sold his shares for him totaling $28k. Since then we have been trying to contact them to find out what the next step is in receiving the money but can no longer get through to them. We are using the same contact numbers used initially when he spoke to them 2 weeks ago, but now it is saying that we can not connect to them, inputted a wrong number or an engaged tone. We've tried from different landlines and mobile networks but still to no avail.
Has anybody got any suggestions please?

Malthusian

Have you tried the main phone number for Merrill Lynch? Or the phone number on the letter he received 22nd July?

Did he pay them any money to sell his shares?

Biggles

Malthusian wrote: »

Did he pay them any money to sell his shares?

Hmm, and was it really Merrill Lynch?

Wee_Jimmie

Had an offer from Royal Dutch Shell for my 186 BG shares.
Offer is £725.00 and 82 shares. Price today is £21 per share which is good.
However to accept cash offer Equiniti and Prosearch want to charge 12.5% + VAT equalling £110.00. Seems a bot of a rip off.
Anyone got opinions on this?
Wee Jimmie

Biggles

Wee_Jimmie wrote: »

Had an offer from Royal Dutch Shell for my 186 BG shares.

I thought that all took place in February, Jimmie, and I would have thought the default cash and shares would have been sent to holders (or to their brokers) by now.

Did they not get in touch at the time?

eskbanker

Wee_Jimmie wrote: »

Had an offer from Royal Dutch Shell for my 186 BG shares.
Offer is £725.00 and 82 shares. Price today is £21 per share which is good.
However to accept cash offer Equiniti and Prosearch want to charge 12.5% + VAT equalling £110.00. Seems a bot of a rip off.
Anyone got opinions on this?
Wee Jimmie

Yes, you're a year and a half too late! The offer you refer to sounds like what was offered to BG shareholders at the time of the company's acquisition by Royal Dutch Shell in 2015/16 (£3.83 per BG share and 0.4454 RDS B shares) and this was all finalised in February 2016, as covered on https://forums.moneysavingexpert.com/discussion/5386256

LHZ

Hey all. Just looking to dip my toe into stocks and shares. I like the idea of investing in a diversified tracker and I've been advised to look at the fund provider 'Vantage' and to use AJ Bell as a trading platform. I intend to drip feed £200 a month or so using an ISA wrapper. Does all of that sound reasonable to you? Anything else I should consider?

Many thanks.

JohnPat23

I invested with CFDStocks now they require these details, is this usual.

In order to verify your account, we need you to send the following documents:
1. Color Copy of Passport / National ID / Driver License.
2. Utility Bill (provided by a public service company) - showing your name and address, and not older than 3 months.
3. Color copy of Credit Card used to fund trading account (Please show on the front the first 6 digits, the last 4 digits, name and expiration date. From the back please cover the CVV code and show the signature)

Thanks John,