Iweb

masonic

John464 said:

masonic said...

Personally I've only ever used (iWeb) for Irish domiciled ETFs with US holdings, which are already reduced to 15% through the US-Ireland DTT.

Same here
How does it work when filling in a Self Assessment?
Can we claim any reduction on the UK dividend tax?

No, because you haven't paid the tax. The Irish investment company did so within the ETF before it declared its own dividend which did not have any withholding tax. Rather like you cannot claim a reduction because a company you invested in paid corporation tax on its profits.

ColdIron

Matt_22 said:

ColdIron said:

Matt_22 said:

May just move my Charles Stanley for now. That was 0.35% running cost. With over a 100k in it works out alot.

I was with CSD until 2018 when I moved to IWeb after they went up from 0.25%. A shame as I liked them, very efficient and the customer service was excellent, but in the end I couldn't justify 0.35% for a portfolio that mostly just sat there with little activity. I've never regretted the move

Is it a sizeable amount you had with them? Yes the charges are alot. Or it definitely adds up with a larger amount.

About double yours, 5 OEICs, mostly index trackers. A quick calculation reveals it has saved me roughly £3,500 to date, a not inconsiderable saving

One thing you might prepare for is that your book (or purchase) cost at CSD may not follow over and be reset to the current value or £0

It was preserved for me but I think it's unusual. I suspect it may be because the ceding provider doesn't provide IWeb with the data while CSD did in my case

Many here report losing those figures, perhaps others can comment. You might want to make your own records while you can

jimjames

ColdIron said:

Matt_22 said:

ColdIron said:

Matt_22 said:

May just move my Charles Stanley for now. That was 0.35% running cost. With over a 100k in it works out alot.

I was with CSD until 2018 when I moved to IWeb after they went up from 0.25%. A shame as I liked them, very efficient and the customer service was excellent, but in the end I couldn't justify 0.35% for a portfolio that mostly just sat there with little activity. I've never regretted the move

Is it a sizeable amount you had with them? Yes the charges are alot. Or it definitely adds up with a larger amount.

Many here report losing those figures, perhaps others can comment. You might want to make your own records while you can

I definitely didn't get those figures carried across. A few of mine with no trades are still showing as 0 purchase cost

masonic

ColdIron said:

Many here report losing those figures, perhaps others can comment. You might want to make your own records while you can

I can't comment on iWeb, as I've built this up in parallel without any in specie transfers, but I've lost my book costs at Interactive Investor without even transferring anywhere (platform "upgrade"). I didn't need them, as it was an ISA, but I think it is good practice to record all of your trades independently and not rely on figures always being available online.

Matt_22

ColdIron said:

Matt_22 said:

ColdIron said:

Matt_22 said:

May just move my Charles Stanley for now. That was 0.35% running cost. With over a 100k in it works out alot.

I was with CSD until 2018 when I moved to IWeb after they went up from 0.25%. A shame as I liked them, very efficient and the customer service was excellent, but in the end I couldn't justify 0.35% for a portfolio that mostly just sat there with little activity. I've never regretted the move

Is it a sizeable amount you had with them? Yes the charges are alot. Or it definitely adds up with a larger amount.

About double yours, 5 OEICs, mostly index trackers. A quick calculation reveals it has saved me roughly £3,500 to date, a not inconsiderable saving

One thing you might prepare for is that your book (or purchase) cost at CSD may not follow over and be reset to the current value or £0

It was preserved for me but I think it's unusual. I suspect it may be because the ceding provider doesn't provide IWeb with the data while CSD did in my case

Many here report losing those figures, perhaps others can comment. You might want to make your own records while you can

Thank you . What do you mean by book or purchase cost? 

[Deleted User]

Hi,

it means what you paid for them.

Matt_22

Ah so you will lose the data that tells you the original cash value of the fund?

dealyboy

Matt_22 said:

dealyboy said:

@masonic said:

@Matt_22 said:

Iweb is a good idea for someone with 200k in investments as would be saving £500 a year fees. I just thinking there must be a catch. There doesn't appear one. I only !!!!!! to my account to buy say 10 times a year so only a charge of £50 dealing fees.

The way I see it is that it is common for companies to have different brand identities to capture different parts of the retail market. LBG have had to build and support the infrastructure used to service their more premium services. These services won't be of interest to those wishing to minimise costs, so to harvest that business they have created a basic offering that is less attractive to their feature-driven clientele, but mops up the moneysavers, and anything additional they can earn using their existing infrastructure is something of a bonus. In reality they will have some additional costs associated with the basic brand and additional load upon their systems, but perhaps they get enough from trading fees for this still to be a viable business model.

Also a satisfied iWeb S&S ISA holder, for five years now.

As well as mopping up those who who only need a low/no cost basic (but adequate) set of features, they are also denying the competition! (always a worthy business aim).

What do you mean denying the competition?

Hi Matt ... Businesses in competition with others in the same market always like to attract as many customers as they can, even if it means they don't make a direct profit from some of them. Market share is important and is attractive for all sorts of reasons including for new, more affluent customers and for publicity reasons, and of course they are denying those competitor companies of those customers.

ColdIron

Matt_22 said:

ColdIron said:

Matt_22 said:

ColdIron said:

Matt_22 said:

May just move my Charles Stanley for now. That was 0.35% running cost. With over a 100k in it works out alot.

I was with CSD until 2018 when I moved to IWeb after they went up from 0.25%. A shame as I liked them, very efficient and the customer service was excellent, but in the end I couldn't justify 0.35% for a portfolio that mostly just sat there with little activity. I've never regretted the move

Is it a sizeable amount you had with them? Yes the charges are alot. Or it definitely adds up with a larger amount.

About double yours, 5 OEICs, mostly index trackers. A quick calculation reveals it has saved me roughly £3,500 to date, a not inconsiderable saving

One thing you might prepare for is that your book (or purchase) cost at CSD may not follow over and be reset to the current value or £0

It was preserved for me but I think it's unusual. I suspect it may be because the ceding provider doesn't provide IWeb with the data while CSD did in my case

Many here report losing those figures, perhaps others can comment. You might want to make your own records while you can

Thank you . What do you mean by book or purchase cost? 

What it cost you to acquire each security

I.e you made two purchases of a particular fund at CSD: £900 and £1,100, your book cost is £2,000. If the current value is £3,000 your gain as reported by CSD would be £1,000

If the book cost was reset to £0 your gain as reported by IWeb would be £3,000. If it was reset to £3,000 it would be £0. So your 'at a glance' position wouldn't reflect reality

ChesterDog

Matt_22 said:

ChesterDog said:

Yes.

But do you have a question about it?

Do you have a decent size holding with it? Itt appears as save as any provider?

Yes, about 800k and about to be more.

Safe, reliable, cheap.