Selling shares (paper certs) where's best

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  • Selling shares (paper certs) where's best
  • falkirk-mark
    Member

    As per title I am looking for reccomendations for selling share certs.Who is reccommended?
    Cheeers Mark

    Philby
    Member

    I’ve used Equiniti a few times – can sell (or buy) on-line and then they will send you a contract note and you return your share certificates.

    shifter
    Member

    This century I’ve only used Equiniti, no complaints.

    falkirk-mark
    Member

    Cheers guys will give them a shot

    acidchunks
    Member

    For cert sales equiniti aren’t cheap at 1.5% (minimum £45).

    If you don’t need to sell them quickly you could open a nominee account with a execution only broker, deposit the shares (should be free) then sell from the nominee holding online (usually fixed commission, should be £12.50 or less). Don’t forget to close the account when you’re finished, most charge inactivity fees.

    That said, it’s a lot of faffing and would take a few weeks minimum. In that time the share price could move against you

    edward2000
    Member

    What acid said. Its called a CREST transfer. I used to work in the call centre at TDWaterhouse executing the transactions. I once had a bank ring me up saying they had a customer looking to sell their shares. The banks comission, a percentage, came to about £2k. When the bank said asked the client why he didnt transfer into a trading account and pay a flat fee of about £12, he said he ‘couldn’t be bothered’. More money than sense.

    http://www.tddirectinvesting.co.uk/choose-an-account/transferring-to-us/deposit-certificates/

    There are other services which may charge a lesser or greater trading fee.

    100mphplus
    Member

    This was recommended on Moneysavingexpert and it’s the cheapest I’ve found @ £5.95 per transaction. http://www.x-o.co.uk/

    Just open an account on line, post the cert to them, (instructions on site), when in account just sell them. You can sell £10,800 worth capital gains allowance per year before having to pay tax.

    acidchunks
    Member

    You can sell £10,800 worth capital gains allowance per year before having to pay tax.

    That’s both poorly worded and wrong.

    http://www.hmrc.gov.uk/cgt/intro/basics.htm

    mike_p
    Member

    I sold some paper certs last year. If you’re in no immediate rush, then open a share dealing account (I used Halifax Sharedealing @ £12 a trade with no annual fee, but there are cheaper options), send them the paper certs by post which will be added to your online account within a few days, then you can trade as you wish.

    Do this because dealing in paper certs is expensive, dealing electronically/online is much cheaper.

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