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Selling Shares

  • 29-01-2016 11:02am
    #1
    smurac86
    Registered Users, Registered Users 2 Posts: 26 ✭


    I have around 25,000 worth of shares which I recently received as a gift.

    I was just wondering what is the easier way to sell these through a stockbroker? Would I need to set up an online account.

    Any info would be great.


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    No need to name the company but I assume the shares you own are in a company whose share are traded publicly i.e. a PLC quoted in Dublin, London or New York (NYSE or NASDAQ).

    It used to be possible to sell shares via your bank - at one stage AIB owned Goodbody and BoI owned Davy but Goodbody is now owned by Fexco and Davy was bought out by the management. You will probably need to setup an account with one of the local stockbrokers and then give them the cert to assign to your account following which they can sell them for you. Expect to be asked to produce the usual identity documents as with opening a bank account under money laundering legislation.

    Phone one of them and ask about opening an account. If you only want to sell those shares and not do ongoing trading, make this clear when talking to them, it will probably speed up the process but you will still need to produce ID.

    http://www.davy.ie/contact
    https://www.goodbody.ie/about/contact.html

    Other stockbrokers are available.


  • #3
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,806 ✭✭✭GerardKeating


    smurac86 wrote: »
    I have around 25,000 worth of shares which I recently received as a gift.

    I was just wondering what is the easier way to sell these through a stockbroker? Would I need to set up an online account.

    Any info would be great.

    In addition the advice above, you should check any capital gains liability you might have from this "gift"


  • #4
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,879 ✭✭✭The J Stands for Jay


    You'll likely have a capital acquisition tax liability for receiving the shares, a capital gains tax liability if they've increased in value since you got them and maybe an income tax liability if you've received any dividends. Isn't being an investor lovely?

    Before you set up a stockbroker account, check the website of the company you hold the shares in, they may have a share dealing service for buying and selling their own shares (maybe not because of the amount you have). It may be cheaper that way.


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