Share Dealing Cheapest ?

gt94sss2

JackassUK147 wrote: »

What about profit on sales?

Each of you has a Capital gains Tax allowance - currently £9,200/year.

Capital Gains under this amount are tax free.

If one of you exceeds your allowance, you can trasfer the shares to your partnet and take advantage of their CGT allowance.

Again, there is no CGT at all on gains in a share ISA.

Regards
Sunil

JackassUK147

I am planning on a bit of risky short term dealing. I assume that this would be difficult within a share isa?

Also I thought transfer of actual shares counted as a gift and was therefore not fully tax advantageous?

agal

cloud_dog wrote: »

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.

Horses for courses, I suppose. I'm not a trader so don't need a trading account (I last sold shares in 1995). I also have had no problems or difficulties in using the MF Sharebuilder.

I have my ISA elsewhere so can't comment how suitable the MF Sharebuilder is for those wishing to have a self-select share ISA. (I know it's not commision-free).

gt94sss2

JackassUK147 wrote: »

I am planning on a bit of risky short term dealing. I assume that this would be difficult within a share isa?

A share ISA is just a tax wrapper - dealing in one is no harder than trading in a normal dealing account

Also I thought transfer of actual shares counted as a gift and was therefore not fully tax advantageous?

If you are married, you can transfer shares and other assets between husband and wife to maximise your annual CGT allowances.

These transfers are not counted as 'gifts' and the cost for CGT calculations will be when they were originally purchased not when they were transferred to the other partner.

Regards
Sunil

lavandergirl_2

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.

Halifax Sharebuilder has no charges at the moment till June 2008.

JackassUK147

Thank you so much for youe help Sunil. You know your stuff!:T

With regards to an ISA. Can I set up a share account, buy some shares and subsequently "wrap" these in an ISA or will that involve transfering the shares?

gt94sss2

JackassUK147 wrote: »

With regards to an ISA. Can I set up a share account, buy some shares and subsequently "wrap" these in an ISA or will that involve transfering the shares?

I'm afraid that apart from some very limited circumstances (to do with HMRC approved employee share schemes) the ISA rules its not possible to move shares you already own to a ISA.. not without selling them and then 'buying them back' within your ISA.

Regards
Sunil