I am looking to buy some shares over the next few months. I know the risks etc…

What I am after is some thoughts on how to do it. My bank (HSBC) can set up an account etc and I can be trading within 3 days.

Does anyone use HSBC or another third party. What are the tax implications?

I used HSBC and still have some shares with them, didn’t have any problems but they won’t always cover certain shares in an ISA. It all depends how much you intend to invest, if you make over 10.5k?? you will be paying tax if they are not in an ISA.

I also use Hargreaves Lansdown and they have been very good.

http://www.hl.co.uk

A J Bell are worth a look for setting up an account.
Paragon diamonds are worth a nosey for investing.

We use tddirect investing

I can be trading within 3 days.

Not that impressive considering you bank with them. Most of the big execution only brokers can have you trading within an hour provided all your details check out

I’d strongly suggest reading up on capital gains tax (CGT) and tax free allowances here: http://www.hmrc.gov.uk/cgt/shares/basics.htm

ISAs are great for sheltering your profits from CGT but you’re limited to how much you can subscribe each year and many providers levy charges for admin (usually waived if you’re account is valued over a certain amount)

My advice would be to go with a broker that offers competitive rates on commission charges, low admin fees, has a reliable web and mobile platforms and provides access to good market data and research.

(HL are regarded as the best for most of the above and their customer service is supposed to be top notch.)

selftrade you will trade as soon as you open an account.

I’ve also used HL and was pleased with the experience (even if their IT systems did melt down on the Royal Mail floatation).

HL – now

Used to use selftrade but not as user-friendly IME

Banks tend to be expensive