How do I transfer plc company shares to my dc ?

[goplacidlyamidthenoise]

I'm finding it confusing as to how I go about transferring some of the shares that I own in a plc to my dc.

All the online advice seems to be about transferring shares in a small family owned business, not a plc.
Hoping to get it done before 5th April to use this years CGT free allowance.

Does anyone have any knowledge on this matter ?
Thanks

If it's not clear on face of certificate speak to the Registrar.

Is that something I can do free or do they charge for advice ?

If you need help understanding their processes that should be FoC.

Do you have paper certificates or are the shares in a nominee account?

I have lots of paper certificates but set up an equiniti account some years ago which shows my personal shareholding in full. Is equiniti a "nominee account" ?

DH transferred shares to me about couple of years ago and iirc it wasn't done online. He had to get a form, which I think he found on the internet, fill it in and send by post. These were in certificate form though

The forums on Moneysavingexpert are generally quite helpful for this sort of thing

You might be aware of this, but you know you’ll still pay any CGT on the shares when you transfer them to your kids? Are you just trying to avoid transaction fees on selling the shares yourself? And so want to transfer to DC fee free so that they can then sell or keep, but benefitting from your tax free CGT amount?

I'm only planning on transferring enough shares to use the tax free CGT personal allowance for this.
This won't result in any CGT payable as far as I'm aware, providing the amount they are worth when I transfer them isn't greater than £3,000 more than the value at which I acquired them (selling costs being an allowable deduction from the gain also).

If you’re factoring in selling costs, wouldn’t it be easier to sell the shares, give the cash to your kids and have them buy some shares themselves?

I really can't see that it's simpler to have 2 transactions instead of just one.

I gift the shares to the dc but make sure no gain would arise by reference to acquisition cost and market value at point of sale.

I guess by "selling costs" I mean the costs of using sort of service to assist me with effecting the transaction.

Thanks, I'll ask on there.

Simpler because presumably it’s easier to execute in your Equiniti account than a transfer to a named individual.

@goplacidlyamidthenoise

I have done exactly this with some shares held in my Equiniti account. Equiniti are the Registar, so manage them for you.

Given that I didn’t know the exact cost when I obtained them (most came from my mum when she died, parents had got them in the 1980s share sell off), I have just transferred £3k worth per tax year, so I know that I am within my CGT allowance.

Assuming that your child/ren are over 18, it is very easy to do, there is a transfer form provided by Equiniti.

I will see if there is a link to it online, but if not, I’m happy to send you the blank version via a private message. You need to fill one in for each ‘child’ but can then send the form(s) in the same envelope along with share certificates totalling the number of shares being transferred.

I always send them registered, DC usually get their share certificate back within 2 weeks, they can then set up their own online Equiniti account if they don’t already have one.

Equiniti are very good at assisting, I have emailed them a few times about things, no charge for any advice.

Oh, and before starting my transfer over last couple of years, I sold one set of shares, and that cost me approx £50. Much cheaper (free) to transfer them!

@Vickyvogue25 I figured transferring to dc would hopefully save on fees and I've spent time creating a detailed log of the costs of acquisition along the way including for those obtained by the plc's Dividend Reinvestment Plan so it looks like I just need to contact equiniti to get process started.

Please could you send me the blank form via a private message, much appreciated, thank you.

How old are the children? As I remember it, children under 18 can’t hold shares. I had to hold them in trust for my children when they were younger.

@goplacidlyamidthenoise I've sent you a PM, cant seem to attach the transfer form but I've sent you details of where to find it on Equiniti site, any problems just message me.

dc are over 18 so not an issue re holding in trust.

Thanks for the message @Vickyvogue25

Personally I would sell the shares so the kids could put the money into a stocks and shares ISA.

Thanks for the input. will do some more sums but need to factor in selling/buying fees and price volatility.