Need some help concerning shares that I own, and thinking of selling.

Noni Juice · 15 Oct 2010 at 12:54

I'm quite low on money at the moment, and I have just received a letter from "centrica" concerning shares that I own.

They are giving me the option to buy, sell or donate to charity and they give a estimated amount of how much my shares are worth. The amount is substantial (well to me) and would help enormously.

These shares were passed down to me, and I'm going to check with my family if its ok to sell, but I just wanted to ask, would it be a good idea?

I'm scared of hidden charges, commission? and I need a new share certificate that will cost £20.

I was thinking of selling half, but a new share certificate will cost £56.70 in that circumstance. I only get a £40/50 cheque every now and then from my shares, and I could use the money.

I don't want to be caught out, and I want to know the real price of selling, is it a good idea?

Sorry for being a complete noob in this subject.

Cheers.

wildman · 15 Oct 2010 at 13:00

you'll have to pay some kind of brokers fee when you sell as you won't be selling them directly to market yourself as you are not a trader so its likely you will go through some kind of brokerage, might be an intendant company or some big banking corp with a shares/stocks wing.

Fee is sometimes flat or a % commission based on total volume sold, so you need to check

stoofa · 15 Oct 2010 at 13:49

You may also have Tax to pay on any profit you make from the shares - so definitely check with somebody in the know.

Morba · 15 Oct 2010 at 13:59

Check with someone in the know, but also remember that if you need to cash them in then do so. Dont hold onto them thinking you can keep them if the **** really hits the fan for you.

Noni Juice · 15 Oct 2010 at 14:03

They have a helpline, I talked to someone and he seemed quite helpful (this was a couple of days ago) I was asking about prices about the certificate. Should I call the helpline and ask them? Or would they just give me advice that's in the best interests of them, not me?

Thank you for the replies.

Morba · 15 Oct 2010 at 14:06

find an independent.

Vonhelmet · 15 Oct 2010 at 14:06

stoofa said:
You may also have Tax to pay on any profit you make from the shares - so definitely check with somebody in the know.

Only if this and his other gains total over £10,100 for the year to 5 April 2011.

Noni Juice · 15 Oct 2010 at 16:19

Lol, I can assure you its well, well under that.

How would I go about finding an independent? Also I think I'll post this on moneysavingexpert's forum, they seem a helpful bunch too

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