I have a few shares languishing, and loosing value, in a Saga share portfolio. I left them there are as there is no admin fee, and a very modest charge if I decided to do any sort of trade. However, they are closing this service in June so I have the opportunity to move them elsewhere for free. Ideally it would make sense to have them in France as then I would get tax certificates for the French tax year rather than having to adjust the UK one. They are mainly UK companies. I really have no interest in trading, nordo I want to pay an trader an annual feel to fiddle around buying and selling which may make me money or may not. It’s really not a huge amount of money, so not worth it. I just want somewhere to house them where they can continue to languish (or perhaps one day wake up and do something) as a rainy day fund.
Any ideas?
I have been looking unsuccessfully for a French funds platform for some years. They all seem to charge enormous fees. Unless somebody else can turn up something, I would be tempted to leave them in the UK, with a low cost platform like A J Bell, or Charles Stanley Direct, which charge about 0.25% per annum.
I assume you don’t pay tax in the UK, so for French tax reporting, I keep a simple spreadsheet of dividends received and put the total on my tax form, I enter the charges in a separate box as a cost; this seems to work quite satisfactorily.
I think I can leave them with Equiniti - which is where they will be transferred if I do nothing. But will check fees to see if the others you suggest are better value.
I declare the actual dividends here every year, and have the tax certificates as proof if ever needed, so that’s not complicated. It would just be easier to consolidate (what a grand word for so little!) things here.
Equiniti do offer an overseas service where you can have the dividends paid directly into your bank account and in a local currency - it costs but will ease the hassle and give you euros for easier declaration - just a thought. https://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Shareholders/Pages/Overseas-Payment-Service.aspx
I can see how it would be convenient, but it would get expensive if you have a number of small divs (as, in fairness, they do point out). I wonder if there’s a route to consolidate them and remit on an occasional basis?
I’ve found Equiniti a nightmare. I use AJBell which is pretty good, and you can keep your dividends in the account or have them paid out to a UK account, if you have one - up to you how you proceed.
As someone else stated there is not really a good funds platform in France. Direct shareholdings are catered for by Fortuneo and Boursorama, but their choice of funds is very poor and they may not continue to support UK share trading.