Need Help On Selling Canadian shares

redddevil

Induna123 said:

Hi. I've activated the portfolio with Redmayne Bentley about 3 weeks ago now. I've been advised it could take 6 to 8 weeks for the transfer to go through. A question i wanted to ask is the proceeds you spoke of. Was this the expected amount you calculated before the sale? Was there any commission charged on the currency exchange?

It's a pity you didn't use the same office as me as it appears it would've been both quicker and cheaper. Never mind. Because the proceeds were dependant on the share price and the CAD exchange rate it wasn't easy to know exactly how much to expect but the amount was definitely near enough my own calculation that I wasn't too bothered. There was no sign of a commission charge in the 'paperwork' which did surprise me but there wasn't really sufficient detail to be sure. HTH

Induna123

Just to confirm I received notice the sale went through today, that's the good news. Took less than 4 weeks from setting up the portfolio. Yes, they did charge a commission of £112.57 plus another £30. This is on top of the £160+vat (£192) admin fee or "probate charge" as well as the initial £200. (all this info you can find in your myRB account under transactions and documents). So the fees add up to £534.57 but I'm still happy that the sale is done, literally sold at the top of the market, I couldn't have got a better price. (thank you gold price). 

redddevil

Induna123 said:

Just to confirm I received notice the sale went through today, that's the good news. Took less than 4 weeks from setting up the portfolio. Yes, they did charge a commission of £112.57 plus another £30. This is on top of the £160+vat (£192) admin fee or "probate charge" as well as the initial £200. (all this info you can find in your myRB account under transactions and documents). So the fees add up to £534.57 but I'm still happy that the sale is done, literally sold at the top of the market, I couldn't have got a better price. (thank you gold price). 

Just the £200 for me in My RB - seems I was lucky!

The_Bookman

redddevil said:

Induna123 said:

Just to confirm I received notice the sale went through today, that's the good news. Took less than 4 weeks from setting up the portfolio. Yes, they did charge a commission of £112.57 plus another £30. This is on top of the £160+vat (£192) admin fee or "probate charge" as well as the initial £200. (all this info you can find in your myRB account under transactions and documents). So the fees add up to £534.57 but I'm still happy that the sale is done, literally sold at the top of the market, I couldn't have got a better price. (thank you gold price). 

Just the £200 for me in My RB - seems I was lucky!

Greetings, could I just ask, what, if any, was the Capital Gains Tax liability on this and how was it calculated?

redddevil

As I got these shares via a demutualisation the whole amount was subject to CGT (which the government had just increased - thanks a lot). I did have a couple of losses to offset but will still be coughing up North of 4k very shortly!