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Junior Member
UK certificated shares
Hi,
I've searched and I can't find any previous postings. But if I've missed one I apologise.
I have several very very small certificated holdings of UK shares. Only a few hundred ££££
Every year at tax time I'm driven totally nuts dealing with them.
I've tried over and over again to find a share trading service in the UK that will deal with me as a NZ resident. But I have failed.
I have always assumed it would cost a small mortgage to sell these in NZ. Does anyone know who would be the cheapest broker in NZ to sell?
FYI, I buy NZ shares through ASB. But it's my UK certificated shares I need to deal with. The amount of work I have to do to administer these shares is stupid.
I don't want to donate them to charity.
HELP!
Thanks
Interested_Party
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Member
Hi I Maybe interested in buying them.Send me a P.M.
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Member
I think you can sell them via asbsecurities. Just send them the certificate. If you don't have the certificate then you have to pay the share registry for a replacement one.
Good luck.
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I have sold certificated UK shares through ANZ Securities in the past, including small lots. Brokerage is high though.
Last edited by SilverBack; 16-05-2017 at 04:02 AM.
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Originally Posted by SilverBack
I have sold certificated UK shares through ANZ Securities in the past, including small lots. Brokerage is high though.
Don't ANZ charge a monthly fee as well?
I used to use ANZ for LSE/NASDAQ, have since moved to Halifax for overseas holdings - far cheaper with a much more in depth platform.
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Junior Member
Why are you having trouble at tax time? Sounds like you would be under the $50k FIF threshold?
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Originally Posted by Joshwnz
Why are you having trouble at tax time? Sounds like you would be under the $50k FIF threshold?
You still have to declare any income the holdings make.
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Originally Posted by hardt
Don't ANZ charge a monthly fee as well?
I used to use ANZ for LSE/NASDAQ, have since moved to Halifax for overseas holdings - far cheaper with a much more in depth platform.
You will only be charged a monthly if you use their custodial service. Ditto for ASB Securities. In my case, I held the certificates and so had to send them in to the broker. This avoids fees but does prevent a quick sale. We are only talking sells here. I had the certificates from earlier UK dealings before all the money laundering rules came in that blocked me dealing direct with UK brokers. I was registered with SelfTrade but they cancelled my account when they abandoned all existing overseas customers. This was some time ago and so perhaps they have changed their policy since then. If so, then I would expect a slow and difficult process to open an account and you will probably need a UK bank acccount as well.
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I have made enquiries with Halifax where I opened an account last year about selling UK certificated holdings that I have in hand and it was not something they normally do but said they would look into it if I wanted to do so (which I have not done).
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