Where to transfer company shares to cheaply

smithers1981

Hi i'm getting made redundant, and my company share scheme will cease, i have 30 days to either cash in all shares or to transfer them into my own share account.

As getting made redundant shares will be tax free and are approx £22000.

Where would cheapest place for me to hold them be?

i had a charles stanley direct isa which i recently closed, so not sure if i'm eligible for a new S&S ISA, i dont believe ive paid anything into this this tax year... also with that one there was quite a high fee for holding individual shares looking for somewhere cheap to hold shares for a while.

Also would i be liable for any tax further down the line were i not to hold shares in ISA? I believe capital gains tax will not be issue unless shares go up more than £11000?

Thanks

MallyGirl

if no CGT then you could transfer them in to X-O who charge £5.95 to sell

bowlhead99

As above, x-o.co.uk would seem to be cheapest place to hold them. You could put £20k-worth of them into an ISA this tax year and the rest after April 5th with the new tax year so that you never need to worry about tax on dividends or gain.

As an aside, the company will allow you to sell them all now with no tax consequences. Is there a particular reason you're not selling, and want to stay invested? Do you think after making you and colleagues redundant, the ongoing reduction of costs in their business will make their business become a lot more valuable compared to what the market thinks a share should be worth today?
There are a couple of thousand companies listed on the UK stock market and tens of thousands of other companies around the world. Why is this one the very best company you could possibly have an investment in?

Many people on being allowed to exit their share scheme would cash in and buy instead a more balanced investment that holds a piece of tens or hundreds of companies around the world. ..

Mr.Saver

Honestly, if I was in your position, I'd sell it and then use the proceed to buy a diversified portfolio instead. Hold large portion of my investment in a single company's share is not something I would do.

smithers1981

Thanks for replies, my shares are in USD it's a well known soft drinks manufacturer/bottler. Shares have been performing well all year and wanted to hang on to them, with hopes of a no deal brexit.

Alexland

Individual company shares might fizz and go pop.

Seriously if you hadn't been employed by this company would you have gone out and bought these shares at current price?

Alex.

kidmugsy

smithers1981 wrote: »

Shares have been performing well all year and wanted to hang on to them

The bubble might burst.

smithers1981

Fair point it is ridiculous for me to predict the market, i will sell and get what they are worth the day they sell thanks again