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Our Charges

Commission scales are detailed below for both our Execution-Only and Investment Management services. For information see our A Summary of our Service Levels.

These commissions are not currently subject to VAT. Any commission an agent or other third party will be disclosed on the contract note. Please see www.redmayne.co.uk/charges.

Dealing Charges

Execution-Only Dealing Commissions

UK Equities, Preference Shares and Convertibles, Unit Trusts, Investment Trusts and Open-ended Investment Companies (OEICs)
Minimum Commission £17.50 (transaction values up to £1,060)
Commission Scale 1.65% on transaction values between £1,060 - £10,000*
Then 0.50% on the balance between £10,001 - £20,000
Then 0.45% on the balance above £20,000
Gilt-Edged and Loan Stock
Minimum Commission £17.50 (transaction values up to £1,750)
Commission Scale 1.00% on transaction values between £1,750 - £10,000*
Then 0.45% on the balance between £10,001 - £20,000
Then 0.10% on the balance above £20,000

 

Investment Management Dealing Commissions

UK Equities, Preference Shares and Convertibles, Unit Trusts, Investment Trusts and Open-ended Investment Companies (OEICs)
Minimum Commission £25.00 (transaction values up to £1,428)
Commission Scale 1.75% on transaction values between £1,428 - £10,000
Then 0.50% on the balance above £10,000
Gilt-Edged and Loan Stock
Minimum Commission £25.00 (transaction values up to £2,500)
Commission Scale 1.00% on transaction values between £2,500 - £10,000
Then 0.45% on the balance between £10,001 - £20,000
Then 0.20% on the balance above £20,000

* This is an increase from £7,000, effective 1st April 2014.

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Investment Management Fees

An annual fee is charged for advisory and discretionary accounts. For further information contact your nearest branch or contact 0113 200 6560.

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Other Dealing Charges

A 'Settlement and Compliance' charge of £10.00 is added to all transactions.

A 'Certificated' transaction charge of £15.00 will be payable for each certificated purchase made.

Please see www.redmayne.co.uk/charges.

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Overseas/Foreign Stocks

Commissions for dealing in overseas shares, other than those settled via Crest, are the same as for dealing in UK Equities, but with a higher 'Settlement and Compliance' charge (minimum £15) to take account of the additional fees levied by our overseas custodians. Please note that purchases of overseas shares can only be made for Nominee, Individual Saving Account (ISA) and Self Invested Personal Pension (SIPP) clients.

Eurobonds £15
United States of America and Canada £20
Other Western Europe £25
Australia, New Zealand and South Africa £30
Other By prior arrangement
If an overseas stock is held as a CREST Depository Interest the 'Settlement and Compliance' charge will be as follows:
United States of America £15
All others £10

For overseas sales outside our normal custodial arrangements we require the certificates and transfer forms in our possession before we can deal due to the increased complications and risk involved in dealing in some overseas stocks. This service, where available, attracts a minimum commission of £30 and may be subject to restrictions.

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Unit Trusts and Other Non-Standard Deals

We accept orders for the purchase or sale of UK Unit Trusts within Redmayne-Bentley Nominee, ISA or SIPP accounts. We refund to clients the full Unit Trust managers' commissions on purchases (sometimes as much as three per cent) and charge commission at our standard equity rates of commission. Wherever possible these transactions will be settled electronically, but where not, a higher 'Settlement and Compliance' charge of £17.50 will apply. Clients should note that cancellation rights do not apply on Unit Trust purchases transacted through ourselves. Unit Trust renewal commissions, if received, are not rebated to clients.

Other non-standard transactions (sometimes known as 'Residual' trades) will be charged a higher 'Settlement and Compliance' charge of £17.50.

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Interest Payable to Clients

Clients receive interest at a rate of 2.5 per cent below Bank of England UK bank base rate, subject to a minimum of £10 per half year.

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Nominee Account Charges

Annual charge No charge
Transfer in of holdings* No charge
Transfer out of holdings (per line of stock)* £15*, up to a maximum of £195
Dividend collection fee No charge
Shareholder voting No charge
Shareholder meeting attendance £25 +VAT
Nominee account inactivity custody fee
(where no trades have been conducted on it for three complete years)
£40
Closure fee No charge

*Non-UK stocks may carry a higher charge than that noted. Please contact us for more details.

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Other Charges

Limit Order fee (per executed order) £5
Unpaid or returned cheque (per cheque) and late payment £20 +VAT
Interest charged on late payment (above Bank of England UK bank base rate) 4.0%
Late delivery for sales (per sold transaction) £20 +VAT
Take up of optional capital event in your own name (per item) £15.00 +VAT
Cheque payment (please note there is no charge for BACS) £2
Telegraphic transfer (CHAPS) £20
Faster payment charge £10
International payment charge £30
Reproduced or duplicate documents including statements and valuations (per document) £10 +VAT
Settlement of a third party transaction £50 +VAT

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Government Charges

You should be aware of the specific taxes involved with making investments and the general implications of investments on your tax position.

Stamp Duty is payable at 0.5 per cent on all purchases of UK Equities and Preference Shares (Irish Stocks one per cent) and will be shown separately on your contract note (please note this is rounded up to the next £5 for some stocks). Foreign stocks may also be subject to similar taxes. Stamp duty may also be payable upon the re-registration of holdings from your account ~ where applicable these will also be debited to your account.

Overseas/Foreign stocks may have a UK listing, ie. Dual listing. All Dual listed stocks will be charged Stamp Duty. Also some securities listed in another country, but tradable only in the UK are likewise subject to Stamp Duty or SDRT. Whilst we endeavour to charge duty only on those stocks to which it is applicable, Redmayne-Bentley reserves the right to charge full Stamp Duty at the time of a trade if there is even the slightest doubt that it is due, as required by the Inland Revenue. This extra over payment will be refunded to the client as and when the Stamp Status is fully agreed with the Inland Revenue and there is a ruling that the stock is Stamp Exempt.

A PTM Levy of £1 is charged on all contracts over £10,000 in value. The Government uses this as a contribution towards the costs of the Panel on Takeovers and Mergers.

Any income or dividends derived from your investments will be regarded as part of your Taxable Income. Any gains (or losses) you make on investments will form part of the calculation of your capital gains tax position. Investments also form part of your estate and are therefore relevant in the calculation of your Inheritance Tax position upon death.

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All these costs will be shown on your contract note, issued after each transaction.

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