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Cheapest Platform to Buy Gilt

MoneyMan01
Posts: 205 Forumite

Looking into putting money into a gilt, and want to ensure I am using the most cost efficient platform.
What is the cheapest platform to buy a gilt?
Is there a platform with a sign up incentive?
Does it depend on how much you are putting in?
Does it depend on what Gilt you are selecting?
If it helps, I will be going for a Gilt that is the most tax efficient, rather than coupon value.
Thank you
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Comments
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iWeb, £5 per trade. You might need to do it over the phone, though. Value of the trade etc. doesn't matter.0
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Thanks!So that £5 trade is a one off, no other platform fees involved? It seems there is a £100 opening fee? Is there any sign up incentive?I saw for example Interactive Investor has a £50 sign up incentive, but then has a £4.99 per month account fee, plus £3.99 trade fee. I would only be buying 1 trade of TN25, and that matures on 31/01/2025, so in theory, if I am understanding this correctly, that would cost me 11 months? So £45, plus the £3.99 trade fee (I imagine when it matures, that does not count as a trade, they just credit my account?), so £49 total, minus the £50 sign up bonus, so gaining a pound from the sign up.Would what I have said be correct?0
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TheDarkKnight93 said:Thanks!So that £5 trade is a one off, no other platform fees involved? It seems there is a £100 opening fee? Is there any sign up incentive?I saw for example Interactive Investor has a £50 sign up incentive, but then has a £4.99 per month account fee, plus £3.99 trade fee. I would only be buying 1 trade of TN25, and that matures on 31/01/2024, so in theory, if I am understanding this correctly, that would cost me 11 months? So £45, plus the £3.99 trade fee (I imagine when it matures, that does not count as a trade, they just credit my account?), so £49 total, minus the £50 sign up bonus, so gaining a pound from the sign up.Would what I have said be correct?
https://www.iweb-sharedealing.co.uk/
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Thank you. I didn't realise they had that offer running. So, it's free to open, no account fees, just the £5 trade fee.Makes sense to open one and see what I can do inside, given that it's free.No other platform cheaper than the one off £5 trade fee?0
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It’s hard to believe isn’t it!Great for lump sum, once a year investors not so for monthly.0
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TheDarkKnight93 said:Looking into putting money into a gilt, and want to ensure I am using the most cost efficient platform.What is the cheapest platform to buy a gilt?Is there a platform with a sign up incentive?Does it depend on how much you are putting in?Does it depend on what Gilt you are selecting?If it helps, I will be going for a Gilt that is the most tax efficient, rather than coupon value.Thank you
I was going to invest a couple months ago but having 5.2 yields in easy access didn’t make the guilt attractive.
It would be great if you could share your rational.
Thanks,
Andy0 -
AndyW79 said:TheDarkKnight93 said:Looking into putting money into a gilt, and want to ensure I am using the most cost efficient platform.What is the cheapest platform to buy a gilt?Is there a platform with a sign up incentive?Does it depend on how much you are putting in?Does it depend on what Gilt you are selecting?If it helps, I will be going for a Gilt that is the most tax efficient, rather than coupon value.Thank you
I was going to invest a couple months ago but having 5.2 yields in easy access didn’t make the guilt attractive.
It would be great if you could share your rational.
Thanks,
Andy
https://forums.moneysavingexpert.com/discussion/6515617/most-tax-efficient-gilt-today/p1
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As with premium bonds these only make sense because of the tax treatment of these. In the case of PBs you don’t pay tax on prizes, and gilts don’t pay tax on gains so for low coupon gilts most of the interest like return is (untaxed) capital gain.If you don’t pay tax on interest the returns are worse than top savings accounts, but 4.6% net yields achievable with TN25 would beat any standard or fixed rate savings account available after 40% tax.At the 20% tax rate these tend to be similar. So really these are a no brainer for higher rate tax payers, especially since they also have a lower savings allowance.1
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