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Old 21.08.2019, 17:26
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Brokerage/account for transferring and holding shares?

Hi everyone,

Does anyone have any ideas for a brokerage/account for transferring some shares that I already own? Basically my current employer has a scheme where you can buy shares while you work there, and now that i'm leaving i'll need to transfer them somewhere. We'll be leaving Switzerland for the UK, so can't be a Switzerland only solution.

My plan is to hold them for the foreseeable future, so ideally looking for something with no annual fees.

My immediate thought was Hargreaves Lansdown as they don't charge yearly fees?

Thanks!
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Old 21.08.2019, 17:57
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Re: Brokerage/account for transferring and holding shares?

Does HL trade those shares on the same Exchange as you, otherwise it could be more complicated?

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Hi everyone,

Does anyone have any ideas for a brokerage/account for transferring some shares that I already own? Basically my current employer has a scheme where you can buy shares while you work there, and now that i'm leaving i'll need to transfer them somewhere. We'll be leaving Switzerland for the UK, so can't be a Switzerland only solution.

My plan is to hold them for the foreseeable future, so ideally looking for something with no annual fees.

My immediate thought was Hargreaves Lansdown as they don't charge yearly fees?

Thanks!
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Old 21.08.2019, 20:55
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Re: Brokerage/account for transferring and holding shares?

The shares are on the Swiss SIX exchange, which it looks like HL trade - I also checked and the stock is listed on HL as something that can be held.

The only downside is that it looks like the trading fees for HL are a little high, and the transfer fees too.

I've heard good things about Freetrade and Robinhood, but it doesn't look like you can transfer to them...
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Old 22.08.2019, 10:53
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Re: Brokerage/account for transferring and holding shares?

You might do better to sell & repurchase whilst still a Swiss resident.

Then you reset the UK CGT purchase price. If you purchase whilst non UK resident the 28 day gap between sale & repurchase does not apply.
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Old 22.08.2019, 12:07
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Re: Brokerage/account for transferring and holding shares?

Sorry, maybe i'm being a bit dim, but don't quite understand!

I already have these shares in my name, and I am currently a Swiss resident for a while before we leave, and I will complete the transfer before I become a UK resident.

The shares are currently held by my current company, and when I leave I have the option of selling them immediately, or transferring them to an account outside of the company.

I'm not sure why UK CGT would apply as this will all happen before i'm a UK resident? I would prefer not to sell and repurchase as the share scheme allows me to buy shares at a discount, hence the desire to keep them!

Last edited by echocharlie; 22.08.2019 at 12:09. Reason: updated
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Old 22.08.2019, 12:19
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Re: Brokerage/account for transferring and holding shares?

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Sorry, maybe i'm being a bit dim, but don't quite understand!

I already have these shares in my name, and I am currently a Swiss resident for a while before we leave, and I will complete the transfer before I become a UK resident.

The shares are currently held by my current company, and when I leave I have the option of selling them immediately, or transferring them to an account outside of the company.

I'm not sure why UK CGT would apply as this will all happen before i'm a UK resident? I would prefer not to sell and repurchase as the share scheme allows me to buy shares at a discount, hence the desire to keep them!
If you eventually sell them when UK resident you will be liable to CGT based on your purchase price at the time of purchase, not value when you became UK resident.
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Old 22.08.2019, 15:23
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Re: Brokerage/account for transferring and holding shares?

Ah right, got it.

I actually get to buy the shares at a 20% discount, so do you know if the CGT would be from the actual stated value of the shares at the time of purchase, or the actual purchase price I paid?

i.e., would I just pay CGT on the increase in value from the face value of the shares, or would it be 20%+ the increase in the value?

I'm inclined not to sell, given that I they have already been paid for with the 20% discount, but I can see your point, it might make sense to sell, then repurchase, with any of the fees being taken into account that I already paid 20% less than their market value at purchase...

Which comes back to...

1) Which brokerage to transfer the shares to if I don't sell.

2) Which brokerage to buy and hold the shares again, if I sell?

Thanks for all the help, this is very valuable advice.
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Old 22.08.2019, 15:30
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Re: Brokerage/account for transferring and holding shares?

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Ah right, got it.

I actually get to buy the shares at a 20% discount, so do you know if the CGT would be from the actual stated value of the shares at the time of purchase, or the actual purchase price I paid?

i.e., would I just pay CGT on the increase in value from the face value of the shares, or would it be 20%+ the increase in the value?

I'm inclined not to sell, given that I they have already been paid for with the 20% discount, but I can see your point, it might make sense to sell, then repurchase, with any of the fees being taken into account that I already paid 20% less than their market value at purchase...

Which comes back to...

1) Which brokerage to transfer the shares to if I don't sell.

2) Which brokerage to buy and hold the shares again, if I sell?

Thanks for all the help, this is very valuable advice.
Your cost price is your base CGT value.

Not every UK broker will accept non UK residents, so your choice may be limited. I like HL
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