How to sell shares?

Repeat3Times

My mum has had some shares for years following an old employer being taken over. She's been receiving a modest return on these but is now thinking about selling them.

Neither of us have the first clue about how to go about doing this, and trying to read up on how to do this as cheaply as possible hasn't really left me any wiser.

She has a paper certificate detailing her holding, something that supposedly makes it more complicated and expensive to sell? Should she sell through the company whose shares she owns?

Any help appreciated, preferably in baby steps!

MallyGirl

Just about the cheapest way to sell, that I have used, is a company called x-o. £5.95 fee.
You need to fill in some forms to transfer the shares and send in the certificates.

Alexland

If you don't want to setup an ongoing account with Jarvis X-O they also run a dedicated site for one off certificate trades.

http://www.sellmysharecertificates.com

If they are valuable remember to consider any tax implications as it may be more efficient to spread the sales over multiple tax years.

Alex

Ifts

Repeat3Times wrote: »

Any help appreciated, preferably in baby steps!

As suggested by MallyGirl, you could use someone like X-O.co.uk share dealing services (£5.95 per trade) for a cheap method of selling the shares.

Open a Share Dealing account with X-O.co.uk - free to open and no annual account charges - then transfer your share certificate in to your account (to be safe send the share certificate in by registered post) 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


Or if it's easier for you, do as Alexland said and sell them via:

http://www.sellmysharecertificates.com

Repeat3Times

MallyGirl wrote: »

Just about the cheapest way to sell, that I have used, is a company called x-o. £5.95 fee.
You need to fill in some forms to transfer the shares and send in the certificates.

Alexland wrote: »

If you don't want to setup an ongoing account with Jarvis X-O they also run a dedicated site for one off certificate trades.

http://www.sellmysharecertificates.com

If they are valuable remember to consider any tax implications...

Ifts wrote: »

As suggested by MallyGirl...Open a Share Dealing account with X-O.co.uk - free to open and no annual account charges...

Thank you all so much!. Already feeling less daunting a process.


@MallyGirl - That seems much more straightforward, and certainly cheaper, than other companies I had looked at during a cursory search.


@Alex – am I correct in reading that Capital Gains Tax is only charged after £12,000 this year? These shares won’t return anywhere close to this.


@Alex, Ifts – are there any future cost implications to opening an account at X-O? No inactivity fees, or a cost to close the account in future? We’ll have no foreseeable interest in dealing with shares after this, but given the £22.50 charge for the SellMyShareCertificates route, I’m not averse to doing the minimal work required to set up an account at X-O instead for the saving on offer.


Again, thank you all for taking the time to reply with your helpful advice, truly appreciated!

MallyGirl

Repeat3Times wrote: »

@Alex – am I correct in reading that Capital Gains Tax is only charged after £12,000 this year? These shares won’t return anywhere close to this.

CGT is charged on any profit (sale price minus purchase price minus cost to sell). The allowance in this tax year is £12,000

Ifts

Repeat3Times wrote: »

@Alex, Ifts – are there any future cost implications to opening an account at X-O? No inactivity fees, or a cost to close the account in future? We’ll have no foreseeable interest in dealing with shares after this, but given the £22.50 charge for the SellMyShareCertificates route, I’m not averse to doing the minimal work required to set up an account at X-O instead for the saving on offer.

No there are no inactivity fees and there is no charge to close the account in the future.

You are correct the Capital Gains Tax allowance for 2019/20 is £12000.

Ifts

MallyGirl wrote: »

CGT is charged on any profit (sale price minus purchase price minus cost to sell). The allowance in this tax year is £12,500

2019/20: PA allowance is £12500, CGT allowance is £12000

stylus360

I have used X-O for over 15 years.

Very easy to add funds and trade, set limits etc...

BUT they only trade on the LSE, i want to expand into USA/NASDAQ....

MallyGirl

Ifts wrote: »

2019/20: PA allowance is £12500, CGT allowance is £12000

yep - my mistake