Note that many types of fund can be liable to ERI… including ETFs.
You only need it to be non-UK domiciled (which is most!) and then to be sure… you have to read the documentation for each fund you own… you might be surprised… for some you get about 1/3 as ERI as you do in divis.
Whether the HMRC actually do go around checking Brokers and finding out if their clients own such funds is another matter… but as I’m sure you’re aware… you’re better off staying on the right side of things as far as the HMRC are concerned.
Note that many types of fund can be liable to ERI… including ETFs.
@J_Westlock, both my funds are UK domiciled so I’m OK. This might help if you want to check.
What I did for a while with TD Direct & then ii, was to verify matters via 2 screens. One showing live market prices, the other my trade. When buying, if live market SP ticked up as happened occasionally, & I clicked buy & still managed to get my trade done at SP before the tick-up, to me that was best execution. TDD always achieved that.
My experience with ii was different. Trade would fail if live SP ticked-up a fraction. I’d even check on LSE later. A lot of algo trades made at similar time to my off-book ii trade were at fractionally better SPs.
Net effect: with TD Direct one paid standard £12.50 commission if not trading frequently. But in real terms, it seemed cheaper than that. Obviously, it makes no difference if one is buying lower amounts. It makes a significant difference if frequently buying tranches of 10,000 shares or more.
By the by, one guy on London South-East BBs did a comparison between his 3 brokers: HL, AJ Bell & iWeb. Though iWeb charge only £5 commission, they compared very favourably with the 2 more expensive brokers for execution prices. So cheapness doesn’t have to mean poor service. - Regards.
@jackdawsson, execution price is one thing, service is another. I’ve found ii quite good overall but only been with them less than a year. If you move from ii do tell us who to.
I agree. Perspective is welcome. No knocking ii for other aspects of their service. Rest of it is VG. Decent resources & dividends always paid very early on due dates.
I’ve also done more trades with them in past few days than I intended, so taking advantage of their monthly free-commission trade. If I could guarantee that as standard, I’d stay. But I suspect that during a longer market downturn, I shall do little more than hold. Possibly for a lot longer than a few months. In that scenario, transferring to someone cheaper becomes sensible.
However, though I’m not rushing any transfer decisions just yet & not before I settle the last of my VOD shares (their Liberty Deal decision due on 23rd July & VOD’s next report update on 26th July), it’ll probably be to iWeb or X-O. I will let you know when it’s all completed. - Regards.
@jackdawsson, AJ Bell only pay dividend/corporate action settlement when they receive the funds not on the due date. Annoying that the date posted on the transaction report is the due date so it looks as if they’ve paid on time. Corporate actions is a mess. Not good since the move. Still have exit charges so I’m stuck for now.
I moved from X-O over a year ago.
With a bit of luck you may be able to move soon without incurring any exit fees. Final decision still pending, but FCA say plans may be afoot to scrap all broker exit fees. The sooner the better. - GL.
@jackdawsson, thanks. Still a consultation period so goodness knows when.
‘The FCA’s consultation on new rules for switching and feedback on the questions regarding exit fees runs until June 14. The FCA may then consult on final rules for exit fees’.
looks like 124.5p was the bottom on 23 May & 25 June 2019 …now up to 133p.
it fell back from 133.5p on 4th June will we see repeat .
Academic point: VOD’s closing low for some 10 years was 123.32 seen 23rd May. Re-tested a few times since.
Quite right about expected resistance at 134. But if it breaks that with good volume, we’ve a decent chance of making slower progress to circa 140. FWIW, I keep my 2 VOD tranches at 175+ & 198+ under constant review. - GL.
I remember you predicted VOD would hit 120 ish, and you were correct, where is it going now?
Sub 100 by Xmas. This rally is bad into coming data end of month. Never a good sign. And after that , same old. Probably take that long. Nothing out there has changed. Nothing the funds never knew before. And no money suggesting an unknown.
If your asking me how far up will this bounce go? I’ve started shorting it. But il have a better idea tomorrow. Need one more volume read and can estimate with a bit more accuracy then.
But if it opens up a little bit on today’s close, then that’s the start of the drop.
(Edit) an announcement of 0% div may change that sub 100p outlook. But not expecting to hear that really. Not now anyway.
@J_Westlock, glad I found your post of 12th June as didn’t know about the different types of Saxo accounts (so much to read). Did you mean you are a Saxo Platinum sharedealing account holder as can’t find Premium. I have to move from **** it’s hopeless. I don’t want to say too much until I have left.
Sorry you might have mentioned already but I can’t find the relevant post. Is your SIPP and ISA with iWeb or someone else. I want a provider with good service (not necessarily cheap) and one that pays out promptly not 3 months later!
ii has good reviews but don’t want to put all eggs in one basket.
@mememe Will be interested to hear what the issues were once you’ve left as I still use them for an ISA.
I think they altered their account types in recent months, they now use these names:
Classic – minimum £500 deposit.
Platinum – minimum £50,000 deposit.
VIP – minimum £1,000,000 deposit.
For most, the Classic account is used. Platinum is the old Premium I think.
My SIPP is with Charles Stanley Direct… more for historic reasons before I knew what to look at… and now too expensive to change.
However, their customer services seem good to me.
I have ISAs with CS, AJ Bell, iWeb and Hargreaves and a non-ISA with Saxo.
I haven’t dealt with customer services enough to criticise any of them too much. I usually deal with them via secure messaging.
Certainly with SAXO, you need to call them if you have issues as their online issue reporting Ive found isn’t responsive enough.
Have you tried IG?
@J_Westlock, thanks very much for your detailed reply.
I’ll give iWeb a try for the ISAs just a bit concerned about the way they manage limit orders, the SIPP will go to iii (cashback offer too) but mainly happy with my current ISA with them. Also neither have exit charges although no intention of moving if I’m satisfied.
For the Sharedealing account I’ll try ShareCentre as able to speak directly to corporate actions and other backing teams but will find out more tomorrow. Only thing they don’t do non-UK shares. Good reviews on various sites. Higher charges but if the service is good I’ll be happy.
I’m keen on Saxo but I’ve quite a few shares in this account which could mean a number of corporate actions. If I have the same problems as with the current provider it’s not going to work. Did you ask Saxo about the end of year Tax Certificate and Cost & Charges report which they are obliged to send? Also their exit fees are too high.
I already have an account with IG(purely for non-UK stock) and they and Saxo seem to be very similar. Have never paid custody charges because of the number of trades + one of the lowest for FX charge though I do have a multicurrency account so no FX charge until I convert. Service is just OK though I haven’t had any major issues. No exit fees either.
Charles Stanley is one that looks good too -I’ll keep that as a backup for now.
One thing I don’t like about CS… you can’t place GTC or date limited orders. Never had a problem service related with them though.
I think I answered this one some time ago but I asked them about 4 years back… and they didn’t have anything specific then but they simply said they provided all the information necessary for a client to be able to complete a tax return.
Are you saying there’s a specific style report that UK regulation insists all brokers make available?
@J_Westlock, it’s called the Consolidated Tax Certificate and when I spoke to HMRC I was told every investment provider must provide one annually. I’m not sure if ‘must’ means compulsory. HMRC asked once about foreign dividends I provided the summary sheets that kept them happy. I’ve never not received one they all usually come out in May though still waiting for IG. IG also provides a dropdown option for nett dividends but that’s in the currency of the stock. It’s only the CTC that shows the dividends and tax paid in GBP. Perhaps what Saxo provides is acceptable to HMRC if they ever ask.
Please can you remove the name of the broker I mentioned - you copied a sentence from my previous post to reply to me (19hrs ago). You never know who’s looking. I’m still negotiating but doing better than Brexit!!( I’m an ardent Remoaner)
Good news today up 10% to 145p .
Thank God for that. First bit of good news since Verizon sale back in 2013/14. Maybe they can get back to 200p? In the meantime happy to keep picking up my 6% yield.
I’ve let things drift a bit but need to look at moving our accounts. I’ll have a look at the two you mention but I do need to sort something out.