Share Maturity Help

[Kev_Mk3]

I currently have a work share scheme that is coming to maturity and I am unsure in some aspects what to do with it.

my 3 options given are -

1. Buy the shares and sell them
2. Buy the shares and keep them
3. Don't buy the shares and take my money I've put in back.

Currently I want to do option 2 as I have more maturing soon so would like to decide what to do with them as a lump sum not dribs and drabs.

Now this is what I don't understand.

We use Equity to deal with our share scheme & they have given me the following options -

1. Transfer the shares to an Equiniti Global Nominee Account
2. Keep the shares as a share certificate
3. Transfer the shares to an existing and active Halifax Share Dealing Account (HSDL)

If I open a HSDL account I get a charge of £12.50 per trade if I sell the shares online, If I use or create a Equiniti account I get a dealing fee of 0.1% to a minimum fee of £20 per sale.

Has anyone used either of these systems and which if any will be more beneficial.

Thanks

[bstw]

I've just been through a similar process. My advice would be to find out if HSDL will accept a paper share certificate from you, if so, request it from Equiniti, post it to HSDL and sell via them.
A colleague used Equiniti to sell theirs and as well as the fee's being much higher than elsewhere they took days to actually sell the shares which coincided with the price dropping a fair amount.

[Mazinbrum]

My company use Equiniti for Saveshare schemes. I find them expensive and difficult to deal with. The online Halifax dealing account is easier and cheaper so I'd definitely transfer straight away.

[DaveH23]

We have the same Scheme with the same provider.

Alot of folk at our place use X-O.co.uk.

Print a crest form off their website, send in your certificate with said completed form and your shares appear in your online account.

There is a then a fixed price of £5.95 when you decide to sell regardless of the No of shares you sell or the money you make.

They really are no frills but have used them for years so can happily recommend them.

Edit to add that you will need to opt for a copy of your certificate, when you send it off to X-O send it via recorded delivery for you own peace of mind.

[bernie_eccle]

Kev, sounds like you work for the same group as me. Just open a HSDL account and have Equinitti transfer the shares direct to there. This saves the faff of dealing with a physical share certificate and transfer forms. If you select that option prior to 18th December, your shares should be in your account very early in January and you can then sell them if you wish.

[Jon39]

I don't think anyone has mentioned one further option.
I may not be up to date on the current regulations, but years ago at employee share scheme maturity, you could transfer (repeatedly) holdings directly to a stocks and shares ISA.
It possibly is in addition to the annual subscription rules.

Worth considering if you plan to keep long-term, because otherwise you may end up with a liability for Capital Gains Tax.
I did this and even went against the 'too many eggs in one basket' rule, but that decision helped to change my life.

It does of course all depend on whether you think your employer will grow profits strongly in the future, and also whether they manage to actualy achieve that. Luck does come into this 'game'. If troubles arise, you don't want to lose your job and your savings together.

Edited by Jon39 on Thursday 19th December 17:15

[Kev_Mk3]

Sorry for the late reply been away. With the shares I want to wait for all my shares to mature to save capital or income tax so means holding onto them longer.

bernie_eccle said:

Kev, sounds like you work for the same group as me. Just open a HSDL account and have Equinitti transfer the shares direct to there. This saves the faff of dealing with a physical share certificate and transfer forms. If you select that option prior to 18th December, your shares should be in your account very early in January and you can then sell them if you wish.

Begins with a L and ends in S? If so then yes.


With the HSDL which would i go for or no difference between "share dealing account" and "sharebuilder"

https://www.halifax.co.uk/investing/start-investin...

[bernie_eccle]

Sounds like the same group.

The Sharebuilder account is if you wish to pay into it monthly. The Share Dealing Account is most likely the one you want. You could probably also use the ISA one if you do intend to hang onto the shares.

I just use the Share Dealing Account as I now sell the shares as soon as I get them, having had my fingers severely burnt about 10 years ago

[Kev_Mk3]

bernie_eccle said:

Sounds like the same group.

The Sharebuilder account is if you wish to pay into it monthly. The Share Dealing Account is most likely the one you want. You could probably also use the ISA one if you do intend to hang onto the shares.

I just use the Share Dealing Account as I now sell the shares as soon as I get them, having had my fingers severely burnt about 10 years ago

Yes many many people did get burnt, lucky / unlucky I had none then!

Thanks I'll get it opened.

[Kev_Mk3]

Opened a HTA

Requested the shares go to said account so now I wait.