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Yes, appreciate that ws. 0.835 (0.85 now...) isn't 0.90 though, which was the point I was making. I think everyone on here is hoping the sp can climb above 1.00 and remain consistently above that level, as a basic building block to the higher levels we all expect to see at some point. I've held SAR nearly as long as PXS, it took forever to get over the 1.00 barrier and hold it but since then it's been absolutely flying. I'm sure the same will happen here, eventually...
K
was offered 0.835 to sell £1000. the 0.8s and 1.0s are just MM creating a fuss.
Does feel like PXS shares are popular atm
W$
Just a pity we don't seem able to hold 0.90 on the bid. Every time we seem to be trading in a new, higher range, it drops back. I think this is the issue with these long periods of information blackouts from PXS, it gives the MMs license to do what they like with the SP. The sooner we get some (good) news the better.
Hence the jump in Sp on top of the 48k buy yesterday
Looks like someone used there full ISA allowance on PXS this afternoon.
Yes, thanks very much Benbow & Krusty for your advice on this - apologies for confusion as I was just saying transfer in last post to avoid longer description, but I do understand from Benbow's very helpful explanation how it works. I'll be interested to see the set-up on ii when my accounts are transferred over... if it does!, as spent most of the day on the blower to EQI & ii as its already gone t*ts up!:( Thank you both again for your help, greatly appreciated
Wow, that's some detailed and useful advice you're getting from Benbow. I think I'll butt out at this stage as it appears I.I. works slightly differently to my broker, and as you're going to be with I.I. soon it's best you follow Benbow's lead. I will just say again, as you still refer to a transfer of shares, you can't transfer shares to an ISA, they have to be sold and re-bought, exactly as Benbow describes. Good luck MinTid.
I am with I.I. so you'll find the arrangements are as I described. Once set up, you'll find Bed and ISA in the Cash and transfer menu. The original sp when you bought the shares is only relevant for tax purposes, if you need to declare a profit or loss, just as if you had sold the shares and kept the cash. Henceforth, one of the benefits of the ISA, of course, is that you don't have to account to the taxman for the dealings inside it. The sp you get for the Bed and ISA shares will be determined on the day the deal is done, which might not be the same day you place the order, and the sp you get them back for will be slightly higher, meaning you'll have to pay a little more to get the same number of shares back, plus dealing charge. The spread will be much less than you would otherwise expect though. (See PXS trades at 1158 21st June - Shares were sold at 0.800p and bought in ISA at 0.801p even though they both show as sells here. In this case the number of shares differs in order to put the maximum value into the ISA, but in your case the number of shares will be the same and the values will differ slightly. I hope that makes sense. Btw, when your account is changed to I.I. your records should be transferred as well, but don't rely on it. Download any contract notes and statements needed for tax purposes before the switch, just in case.
Thank you Krusty & Benbow, unfortunately I'm with EQI and so my ISA & Trading accounts are being taken over by Interactive Investor this weekend (as EQI sold out to them!) - so I've no idea what Bed & ISA arrangements ii have...... and if they have the facility of linked accounts you mention Benbow - really hoping ii does as I really like the concept of how you've explained it transferring a quantity of shares by number into my ISA, as by this way I shouldn't lose any shares even though there might be quite a difference between the current SP and the original SP I bought them at - please correct me here if I'm wrong? Thank you kindly for your help which is much appreciated
Just to be clear, you need to have linked ISA and trading accounts and you use the Bed and ISA page in your trading account. Then it's just a matter of a couple of mouse clicks and typing in the number of shares. You don't actually have to explain anything to anyone.
MinTid, you can't transfer shares from a trading a/c to an ISA. You have to sell & re-buy. You don't need to worry about losing shares, as Benbow says just instruct your broker to re-buy the same amount in your ISA. Once the shares are sold in your share a/c, they'll transfer the money to your ISA and re-buy them in there. That's why it's important to use the Bed & ISA service, otherwise you have to sell the shares, transfer the money to your ISA and re-buy them, all of which will cost you. I'd be very wary if my broker didn't understand Bed & ISA, that's the specific service you need. Out of interest, which broker are you using? Someone on here might have experience with them. You've got until the beginning of April 2022 to sort it out, so no need to rush in until you're sure about them. K
You can specify; A) the share value to generate for your ISA, if you are not transferring your total number of shares [which is useful to fill up to an ISA allowance] or, B) the number of shares to transfer [which is the one you want] Your broker will do the selling and re-buying on your behalf and get a better deal on the spread than you could get yourself. You will need a little cash in your account to cover the bid/offer spread achieved, and dealing charges.
Thanks Krusty & Dr Horrible, I picked up on your post as when I spoke with my brokers they said they would basically sell and re-buy. Now I don't know if I spoke with someone there that didn't understand Bed & ISA or that my brokers don't operate it, and so that's why I'm keen to learn if Bed & ISA means that you don't sell and re-buy the shares but transfer the same quantity of shares and keep them in your ISA without losing out financially, as currently a sell and re-buy would mean owning a lot less shares than I originally purchased due to SP difference, and of course I want to keep the lot! If anyone can help me with this I'd be most grateful
Hi MinTid,
Yes I've done Bed and ISA transfers (and Bed & SIPP, for info) several times in the past. It's really quite frustrating that my broker (Hargreaves Lansdown) is currently using Covid as an excuse to reduce their service (not their charges, obviously...) and isn't currently offering Bed & ISA. If I recall, you can choose to transfer the same amount of shares, the spread is minimal or in some cases the same trade price, so you just end up paying the normal dealing fees. Have a look on your broker's website, or give them a call. It's an excellent way of transferring shares out of a standard trading a/c into an ISA or SIPP. I'm not in a hurry to move my shares over so will wait for now and hope HL reintroduce the service once we get back to "normal". I'll be interested to hear how you get on, good luck with it. K
Don’t try to sell and re-buy yourself. Contact your broker and talk to them.
Krustysmegma & Wellsite, I was interested in your comments regarding Bed & ISA, as I have a lot of shares in my dealing account that I would like to transfer into ISA's. It seems from your posts that with Bed & ISA you can transfer them without having to sell and re-buy them; is this so? as I would like to keep the same quantity of shares that I own upon transfer which doesn't obviously happen with a sell and re-buy. I'm a 10 year holder in PXS so I follow this board with considerable interest. Many thanks for any information you can please provide on this
ws no, they haven't. I check almost weekly as I have several investments in my share a/c that I need to move to my ISA and don't want to sell & re-buy.
bed and Isa, reminds me need to check whether HL have restarted doing it aswell
What's going on why the sells