Hello,
Pls may some one help
Is the stamp duty spread across the share price
So if you buy 15 shares at £1 and stamp duty is £1.50
Each share on the platform is then calculated at £1.10?
So then when you sell you don’t have to take into account the stamp duty?
This question can be best answered by using the practice account and carefully observing what happens. Stamp duty is charged in both ISA and Invest accounts and in an Invest account is an allowable expense against capital gains tax when you sell.
0.5% on £15 is 7.5p. So basis cost for each share will be £1.05.
1 Like
Interesting, as a newbe here at T212, found this related thread.
I never had paid Stamp Duty before until coming to this platform, so I guess this is a standard fee on every purchase of shares. Where I have been trading for years I never saw that fee, in fact no noticabale fees at all, neither on adding or withdrawing funds where eToro there were both fees to withdraw and stamp duty. I have been experimenting to see how each platform works and so far been encouraged to trade with T212 more.
I guess the buying of volatile shares at a low then sell at a high over short periods the gain could be affected by the stamp duty cost, as its a peecentage whatever the size of the buy/sell and has to be taken into account, if its for short buying where I do have long stocks too.
Hey, @RockerG
The Stamp Duty Reserve Tax is 0.5% and charged when purchasing shares listed on the London Stock Exchange. There is no Stamp Duty charge applied to gilts, bonds or ETFs. We also display the Stamp Duty that will be charged in the ‘Review order’ tab. Here’s how that looks
Is 0.5% of the total transaction.
If you invest £100 it’s 50 p
And £1,000 it’s £5
I think I’ve got that right
1 Like