Share Dealing Cheapest ?

RUFFRYDER_2

Hi i am considering purchasing some share and wont to find the cheapest way to go about it, i know which companies share i would like to purchase so do not need an advisory service, i would be holding on to them for around 2/3 years so would prefer no or low management charges as i dont think i will be transferring or making any changes during the time period

any suggestions

gt94sss2

I would suggest Selftrade.

They are one of the largest brokers in the UK and charge £12.50/trade whether its by telephone or online. They also have no inactivity or annual fees on their standard dealing account.

In addition, they also have a referral scheme - my own details are in post 282.. where it is possible to get £80 for joining them - which effectively means that the first 6 trades would be free for you..

Regards
Sunil

cloud_dog

SelfTrade is quite well liked (am with them).

There is no admin fee and buy / sell costs are £12.50 per trade. I know there are others that do slightly lower dealing costs but I'm sticking wiht ST.

One other thing to note is that ST are one of the few who would not charge to clsoe the account (if its all in cash).

cloud_dog

p.s. ST also a referral scheme (£80) if a 'friend' recommends you. You need to look on the Referral thread(???) for people who could assist. although having said that I'm sure they'll be along soon :rotfl:

p.p.s. - I was right.......... :-)

jamesd

For buy and hold the Halifax Sharebuilder service is cheaper than SelfTrade, with no charge at all for buying for the next few months and just 1.50 per trade normally if you're happy to trade on one of their weekly collective trading days when they buy for everyone in one go to reduce costs.

McSaver

I have just joined Iwebsharedealing and they charge £10 flat rate for UK Deals and £15 for International Deals. No annual or quarterly charges either.

agal

jamesd wrote: »

For buy and hold the Halifax Sharebuilder service is cheaper than SelfTrade, with no charge at all for buying for the next few months and just 1.50 per trade normally if you're happy to trade on one of their weekly collective trading days when they buy for everyone in one go to reduce costs.

I'm surprised that Halifax and the similar Motley Fool Sharebuilder services aren't recommended more often. Many seem to think they invest monthly but as you rightly point out you can invest weekly. Since last June I have put £20k+ through the MF version with zero commission charges.

gt94sss2

agal wrote: »

I'm surprised that Halifax and the similar Motley Fool Sharebuilder services aren't recommended more often.

I think they would be recommended more often if Halifax (who run both of the above) didn't seem to experience so many problems with their share dealing platform..

Interesting, I believe Selftrade is going to launch a similar tariff soon - so it will be good to get some competition.

Regards
Sunil

cloud_dog

agal wrote: »

I'm surprised that Halifax and the similar Motley Fool Sharebuilder services aren't recommended more often. Many seem to think they invest monthly but as you rightly point out you can invest weekly. Since last June I have put £20+ through the MF version with zero commission charges.

I think gt94sss2 makes a good point. I think people who are perhaps a little bit more serious or regular in their investments are prepared to pay for a good service.

As with most things you only find out how good the service is when things start going wrong or there is higher demand than normal.

JackassUK147

I'm looking into this and there is a company called Hoodless Brennan who enable real time share dealing at £8 a trade. This drops to £6.50 with use. No admin fees as long as you do 1 trade a quarter. £5 charge if you don't.

My question is in relation to tax. As a higher rate tax payer I assume I should set up the trading in my wifes name, is this correct?

gt94sss2

JackassUK147 wrote: »

My question is in relation to tax. As a higher rate tax payer I assume I should set up the trading in my wifes name, is this correct?

Higher rate tax payers have to pay additional tax on dividends.

If your wife is not a higher rate tax payer, then shares in her name would not attract an additional tax liability.

Alternatively, you could keep the shares in an ISA.

Regards
Sunil

JackassUK147

Thanks for that.

So definately makes sense from a dividend perspective that my wife is the trader.

What about profit on sales?