Share transfer - father to son

lowenstein

Hi just a quick question from a newbie - my dad has shares in BOI that he wants to transfer to me. What are the steps I need to take to get these transferred? Cheers.

Roonbox

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lowenstein

well & truly trolled. If anyone does have any pointers would be very much appreciated. Thanks.

Gaillimh1976

Don't know the answer, but Bank of Ireland have a 'Talk to' forum on here

Maybe one of their Reps could point you in the right direction

Cute Hoor

lowenstein wrote: »

Hi just a quick question from a newbie - my dad has shares in BOI that he wants to transfer to me. What are the steps I need to take to get these transferred? Cheers.

OK I'm going to attempt to answer without being 100% sure of what I'm saying.

I would suggest emailing your situation to investor dot relations at boi dot com - they will be able to give you a definitive answer.

I am assuming that what papaw has is a physical share certificate. You (papaw to be precise) will have to bring this share certificate to somebody like Computershare (whoever handles the BOI shares) and request to have the shares transferred to you. Computershare (or whoever) will then effectively sell the shares on papaw's behalf and buy on your behalf, both at the same price, and both at the actual share price effective at the time of sale/buy. Computershare (or whoever) will charge a nice little fee for doing this transfer (haven't a clue how much). Papaw will then have a liability for Capital Gains Tax on any profit he made on the sale, or will be able to offset any loss against other Capital Gains he may have. You will then be the proud owner of these BOI shares, bought at the applicable price on the day, a price that will subsequently be used by you for Capital Gains purposes when you sell these shares later (having made a mint).

That's my understanding but as I say contact Investor Relations at BOI for clarification.

wordofwarning

What is the value of the shares? You can gift €3k per year tax free. Some brokers give fee free transfers of shares will others don't. It might be best for your dad, to set up a degiro account. Sell the shares with their rip off broker, buy them again on degiro for a small fee. Then each year sell €3k worth, give you €3k then you buy €3k on degiro.

If you have no serious potential inheritance ie less than €225k. Then a bulk transfer might benefit you

Roonbox

lowenstein wrote: »

well & truly trolled. If anyone does have any pointers would be very much appreciated. Thanks.

Sorry couldnt help it
Prob because I dont actually know the answer to your Q..