Selling UK Shares
#1
BE Enthusiast
Thread Starter
Joined: Jun 2003
Location: Melbourne, Victoria
Posts: 524
Selling UK Shares
Resident in Australia. Have some UK paper share certificates I would like to sell.
Share registrar tells me I need a share broker or bank than is licensed to trade in both UK & Australia.
Any recommendations?
Share registrar tells me I need a share broker or bank than is licensed to trade in both UK & Australia.
Any recommendations?
#2
BE Forum Addict
Joined: Jan 2003
Location: Brisbane
Posts: 1,576
Re: Selling UK Shares
If you do it via an Oz broker then yes they need to be licensed in both countries.
You might be able to find a UK online broker that will sell them for you it depends on the value of the stock. Most brokers won't be interested in a small amount especially if it's just a one off.
When I had UK shares I let Killik & Co handle my transactions, but that was 10 years ago.
#3
Forum Regular
Joined: Aug 2021
Posts: 247
Re: Selling UK Shares
When you sell your shares remember to declare it in your tax return. You'll need to work out what they were worth when you entered Australia and pay tax on the difference between that date and their value on the date your sell them. Don't forget to factor in the exchange rate for both of the dates. If you're in luck fluctuations in exchange rates will be in your favour.