Buying and selling shares: limitations!

jonnyj

Hey all,

Im a novice here and have been looking into buying shares. I hope some of you can help clear up a few points for me.

1. Can you buy and sell shares when ever you want or do you need to hold on to them for a minimium lenght of time ie. 3 working days?

2. How long does it take to get a certificate? Does it just state that you own X amout of shares, and can you sell without one?

3. where is the best place to get impartial information on buying shares.

Thanks for your help everyone.

dotsman

There are many brokers you can use, but if you have internet banking, I find it's easier to just use that (ie, I recently closed my Internaxx account, as I find it easier to just use my AIB online banking (via Goodbody). Internaxx was slightly cheaper, but very slow, annoying to transfer money in/out, and by moving to Goodbody, now all my main finances(current/deposit/shares/mortgage etc are all on the 1 website)

1. You can sell you shares immediately after the deal is settled (with AIB/Goodbody, buying "At Best", they are usually settled within 15 minutes - this, I assume, would be normal for most).
2. You don't get the actual certificates with a nominee account (most broker accounts are nominee these days). If you don't want a nominee account, expect to pay through the roof in transaction charges. Also, holding onto the cert is a major risk if you lose/damage it. Also, if you want to sell quickly, you won't be able to as the broker won't sell you shares until such time as you have posted the cert to them (could take days, in an economic climate where you might want to sell RIGHT NOW!!!)
3. As for information (are you looking for predictions etc?), there's so many different places online, I wouldn't know where to start (tbh, I don't think there is a best place - just browse around and read as much as you can from as much of a variety of sources as you can)

eire2009

www.sharewatch.com

print and send off the forms dont forget to sign the crest agreement and dont use tipx if you make a mistake.

Ive had no problems with them so far the internet selling doesn`t work with volatile stocks. Just pick up the phone usually 30E per deal Im sure theres cheaper was going to open one with llyods but you need to be UK resident.

Theres a 1% levy on the purchase price aswell(tax)

Thats it.

Good Luck

mervuedude

Can I ask a question (or two)?

If I buy shares from an American company what are the tax liabilities, do I have to pay CGT in the States and then in Ireland?

Also do I have to pay CGT on the dividend payout in both countries?

Thanks.

ranger4

mervuedude wrote: »

Can I ask a question (or two)?

If I buy shares from an American company what are the tax liabilities, do I have to pay CGT in the States and then in Ireland?

Also do I have to pay CGT on the dividend payout in both countries?

Thanks.

If you intend to day trade stocks make sure you pick a broker who will execuite your buy or sell trade with live market price when you phone them, not 15 minutes later like a lot of brokers do, this is important for daytrading with tight margins but no so important if you intend to hold stock for medium- long term.

jonnyj

Thanks for the replys lads, very helpful. Dotsman, I will look into AIB online, BOI dont offer it as a service, looks like its paper work for me so.

A Random Walk

mervuedude wrote: »

If I buy shares from an American company what are the tax liabilities, do I have to pay CGT in the States and then in Ireland?

Also do I have to pay CGT on the dividend payout in both countries?

Your broker should ask you to fill out a US form W-8BEN which means there will only be a relatively small US witholding tax on the dividends you receive. You'll have to pay Irish income tax on those dividends.

You should only have to pay Irish CGT on gains when you sell your shares.

All assuming there's nothing unusual about your residency etc...

mervuedude

Thanks for the reply Random.