Joint investment account - pros and cons? Does it work?

Somerset_Alan

In a previous thread I alluded to my plan to transfer some stock to my wife so that she could sell, making use of her CGT allowance as well as my own.

(See here:

https://forums.moneysavingexpert.com/discussion/6509950/certificated-shares-is-it-possible-to-divide-and-sell-by-end-of-march#latest )

Well, since then I've discovered that it's possible to have an investment account at a broker in joint names.  According to the Gov website, capital gains arising from disposals from jointly-held property are treated as split 50:50 (unless otherwise demonstrated to be held in different proportions).  

Are there any drawbacks to this?

And is it as simple as opening a joint account and depositing (CREST transfer) my certificates, held in my name only?  Will they then become jointly owned?  Or is there more to it?  Does the Registrar need to be informed of the change of beneficial ownership?  Do I have to change the shares to jointly-owned, and get new certificates, before I can deposit them with the nominee?

DiamondLil

I only have experience of Charles Stanley who charged us double for holding a joint investment account. I.E.0.35% per person for the one account.