my mum has about 2k for shares in bradford and binglet will be my first set of share (heheh), she wants to transfer the trades into my name. i know i need to contact the registrar which is computershare to obtain a form. but their sites is down. Does anyone know if transfering shares will incur any extra charge. would it be treated as buying/selling of shares thus commission. also, are there stamp duty to be deducted? thanks
Jack o'Clubs
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If she has a share certificate, it's a gift and you fill in the share transfer form it will be free - no comms or duty. If she has the shares in a nominee account with a broker, then some brokers will charge an admin fee for transfers out.
The only thing to watch is that the cap gains tax point is triggered at transfer, ie the price at which you start your capital gains losses or gains is the value at the date of transfer, not the date your mum got them. Similarly she would take the gain/loss up to the transfer into her tax return this year, if applicable, obviously.
The only thing to watch is that the cap gains tax point is triggered at transfer, ie the price at which you start your capital gains losses or gains is the value at the date of transfer, not the date your mum got them. Similarly she would take the gain/loss up to the transfer into her tax return this year, if applicable, obviously.
