Selling Shares

Haw_Haw_2

I have shares in my name, they were transferred to me with intention that they would be for children when older.  Children now old enough and want to sell

From what I can gather the shares are listed on the New York Stock exchange

what is the best way of selling these?  What fees will I likely need to pay? Will I be liable for capital gains tax?

I have never sold shares before so and advice….in really simple terms would be appreciated 

eskbanker

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

Haw_Haw_2

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

wmb194

Haw_Haw_2 said:

I have shares in my name, they were transferred to me with intention that they would be for children when older.  Children now old enough and want to sell

From what I can gather the shares are listed on the New York Stock exchange

what is the best way of selling these?  What fees will I likely need to pay? Will I be liable for capital gains tax?

I have never sold shares before so and advice….in really simple terms would be appreciated 

Haw_Haw_2 said:

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

 What's the name of the company? You're certain it's a US listed company? If so they're far harder to sell than British certificated shares: for US and Canadian certificated shares you need a medallion stamp and not many British brokers offer them. 

In recent threads a broker that people have been having luck with for US and Canadian certificates is Redmayne Bentley. Probably won't be cheap, though.

https://www.redmayne.co.uk/

Whether or not capital gains tax is due depends upon how much they've appreciated since they were transferred to you. Everyone has a £3,000pa tax free allowance, though.

eskbanker

Haw_Haw_2 said:

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

In which case, you'll need to deposit the certificate with a broker, which will involve opening an account with them first, after checking that they deal with the specific equity you hold - there are low-cost ones like IWeb who'll do this for you. Edit: above post is more accurate advice!

In terms of CGT liabilities, yes, you'll need to track the gain when selling and if it exceeds the annual exemption (now only £3K) then there'll be tax to pay.

wmb194

eskbanker said:

Haw_Haw_2 said:

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

In which case, you'll need to deposit the certificate with a broker, which will involve opening an account with them first, after checking that they deal with the specific equity you hold - there are low-cost ones like IWeb who'll do this for you.

In terms of CGT liabilities, yes, you'll need to track the gain when selling and if it exceeds the annual exemption (now only £3K) then there'll be tax to pay.

iWeb/HSDL won't deal with foreign certificates.

Haw_Haw_2

wmb194 said:

Haw_Haw_2 said:

I have shares in my name, they were transferred to me with intention that they would be for children when older.  Children now old enough and want to sell

From what I can gather the shares are listed on the New York Stock exchange

what is the best way of selling these?  What fees will I likely need to pay? Will I be liable for capital gains tax?

I have never sold shares before so and advice….in really simple terms would be appreciated 

Haw_Haw_2 said:

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

 What's the name of the company? You're certain it's a US listed company? If so they're far harder to sell than British certificated shares: for US and Canadian certificated shares you need a medallion stamp and not many British brokers offer them. 

In recent threads a broker that people have been having luck with for US and Canadian certificates is Redmayne Bentley. Probably won't be cheap, though.

https://www.redmayne.co.uk/

Whether or not capital gains tax is due depends upon how much they've appreciated since they were transferred to you. Everyone has a £3,000pa tax free allowance, though.

They are Signet shares, they were purchased many many years ago as Ratners shares

wmb194

Haw_Haw_2 said:

wmb194 said:

Haw_Haw_2 said:

I have shares in my name, they were transferred to me with intention that they would be for children when older.  Children now old enough and want to sell

From what I can gather the shares are listed on the New York Stock exchange

what is the best way of selling these?  What fees will I likely need to pay? Will I be liable for capital gains tax?

I have never sold shares before so and advice….in really simple terms would be appreciated 

Haw_Haw_2 said:

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

 What's the name of the company? You're certain it's a US listed company? If so they're far harder to sell than British certificated shares: for US and Canadian certificated shares you need a medallion stamp and not many British brokers offer them. 

In recent threads a broker that people have been having luck with for US and Canadian certificates is Redmayne Bentley. Probably won't be cheap, though.

https://www.redmayne.co.uk/

Whether or not capital gains tax is due depends upon how much they've appreciated since they were transferred to you. Everyone has a £3,000pa tax free allowance, though.

They are Signet shares, they were purchased many many years ago as Ratners shares

Yes, NYSE listed.

Google may have thrown up a lifeline: looks like Signet may have set up an easier way for British shareholders to sell their shares, see link below. It says the fee is 1% of the value, minimum £50. They'll only be traded on the first Wednesday of the month, though.

https://sharedeal.cm.mpms.mufg.com/clients/signet-jewelers-limited/

Haw_Haw_2

wmb194 said:

Haw_Haw_2 said:

wmb194 said:

Haw_Haw_2 said:

I have shares in my name, they were transferred to me with intention that they would be for children when older.  Children now old enough and want to sell

From what I can gather the shares are listed on the New York Stock exchange

what is the best way of selling these?  What fees will I likely need to pay? Will I be liable for capital gains tax?

I have never sold shares before so and advice….in really simple terms would be appreciated 

Haw_Haw_2 said:

eskbanker said:

How do you hold these shares, i.e. are they directly with a broker already (electronically) or do you have physical certificates?

I have a physical certificate 

 What's the name of the company? You're certain it's a US listed company? If so they're far harder to sell than British certificated shares: for US and Canadian certificated shares you need a medallion stamp and not many British brokers offer them. 

In recent threads a broker that people have been having luck with for US and Canadian certificates is Redmayne Bentley. Probably won't be cheap, though.

https://www.redmayne.co.uk/

Whether or not capital gains tax is due depends upon how much they've appreciated since they were transferred to you. Everyone has a £3,000pa tax free allowance, though.

They are Signet shares, they were purchased many many years ago as Ratners shares

Yes, NYSE listed.

Google may have thrown up a lifeline: looks like Signet may have set up an easier way for British shareholders to sell their shares, see link below. It says the fee is 1% of the value, minimum £50.

https://sharedeal.cm.mpms.mufg.com/clients/signet-jewelers-limited/

Thank you, I had seen this when I started to look, but I had really no idea what I was looking at or whether there were other/better options

i’ll follow through with these instructions 

thank you for your help