Selling Shares

Hal17

We currently have some shares which are held by Equiniti - Shareview as a Corporate Sponsored Nominee account. I understand that if we wanted to sell the shares through them which is easy to do, their charges are 1% of the trade value. This seems very expensive to me.

Am I right in thinking that I could arrange to transfer the shares from the Corporate Sponsored Nominee service to a share certificate in my own name. The Equiniti charge for this is £10.00.

Then once I have the share certificate I could arrange to sell the shares using a fixed fee broker of my choice? Is it as simple as that? Many thanks.

Somebody

Yes.  Or you could open a trading account on a platform such as HL, II (who charge no fees for trading accounts), pay Equiniti the £10 and nominate to transfer the shareholding via Crest to your newly opened trading account, and sell when you want.  You should also look at the trading charges (i.e. cost to sell) when choosing the platform.

Hal17

Thanks Somebody that is really helpful.

I just opened a dealing account with AJ Bell which was very straightforward. So now I can either transfer the shares from Equiniti to AJ Bell or transfer the Share Certificates to myself.

Once I decide when to sell, I can use the Crest transfer to facilitate the sale at a much lower cost. Thanks again.

MallyGirl

yes - I did this to avoid the 1% from Equiniti for my company sharesave. Thankfully we have now moved to equateplus which is only 0.2% so much more reasonable. 

SouthCoastBoy

Hal17 said:

Thanks Somebody that is really helpful.

I just opened a dealing account with AJ Bell which was very straightforward. So now I can either transfer the shares from Equiniti to AJ Bell or transfer the Share Certificates to myself.

Once I decide when to sell, I can use the Crest transfer to facilitate the sale at a much lower cost. Thanks again.

When you transfer the shares are you effectively selling them and buying them back? If so will you need to take into consideration CGT may be payable?

Hal17

SouthCoastBoy said:

Hal17 said:

Thanks Somebody that is really helpful.

I just opened a dealing account with AJ Bell which was very straightforward. So now I can either transfer the shares from Equiniti to AJ Bell or transfer the Share Certificates to myself.

Once I decide when to sell, I can use the Crest transfer to facilitate the sale at a much lower cost. Thanks again.

When you transfer the shares are you effectively selling them and buying them back? If so will you need to take into consideration CGT may be payable?

Thanks for asking. No I am not going to sell any at this stage.

My thoughts were to just move them from a Corporate Sponsored Nominee account with Equiniti to my new dealing account that I opened with AJ Bell. When I do want to sell some of the shares to use the £3K CGT annual allowance, the shares would be available to trade at a lower cost. I trust that's correct.

SouthCoastBoy

Hal17 said:

SouthCoastBoy said:

Hal17 said:

Thanks Somebody that is really helpful.

I just opened a dealing account with AJ Bell which was very straightforward. So now I can either transfer the shares from Equiniti to AJ Bell or transfer the Share Certificates to myself.

Once I decide when to sell, I can use the Crest transfer to facilitate the sale at a much lower cost. Thanks again.

When you transfer the shares are you effectively selling them and buying them back? If so will you need to take into consideration CGT may be payable?

Thanks for asking. No I am not going to sell any at this stage.

My thoughts were to just move them from a Corporate Sponsored Nominee account with Equiniti to my new dealing account that I opened with AJ Bell. When I do want to sell some of the shares to use the £3K CGT annual allowance, the shares would be available to trade at a lower cost. I trust that's correct.

I think you misinterpreted my question. I was asking that by transferring them are you effectively selling them and repurchasing? Therefore potentially triggering a cgt liability?

Hal17

SouthCoastBoy said:

Hal17 said:

SouthCoastBoy said:

Hal17 said:

Thanks Somebody that is really helpful.

I just opened a dealing account with AJ Bell which was very straightforward. So now I can either transfer the shares from Equiniti to AJ Bell or transfer the Share Certificates to myself.

Once I decide when to sell, I can use the Crest transfer to facilitate the sale at a much lower cost. Thanks again.

When you transfer the shares are you effectively selling them and buying them back? If so will you need to take into consideration CGT may be payable?

Thanks for asking. No I am not going to sell any at this stage.

My thoughts were to just move them from a Corporate Sponsored Nominee account with Equiniti to my new dealing account that I opened with AJ Bell. When I do want to sell some of the shares to use the £3K CGT annual allowance, the shares would be available to trade at a lower cost. I trust that's correct.

I think you misinterpreted my question. I was asking that by transferring them are you effectively selling them and repurchasing? Therefore potentially triggering a cgt liability?

Thank you again, I now understand what you meant. No I am not selling and repurchasing the shares. Cheers.

Hal17

MallyGirl said:

yes - I did this to avoid the 1% from Equiniti for my company sharesave. Thankfully we have now moved to equateplus which is only 0.2% so much more reasonable. 

Thank you for your help. I have opened a new trading account with iWeb and my intention is to transfer the shares from Equuiniti to iWeb using the appropriate form and hold them in my new account.

I guess it is no more complicated than that?

Once the shares are in my iWeb account I can then just sell as and when at their trading fee of £5.00. A large saving over Equiniti.