SimplyStockbroking Introduces Individual Savings Accounts (ISA's) With no Fixed Account Maintenance Charges
By Simplystockbroking, PRNETuesday, December 1, 2009
LONDON, December 2 - SimplyStockbroking, the new low cost execution only dealing service
today announced its Self Select Shares ISA.
Individuals may now buy shares online or over the phone within
a tax efficient ISA, for a flat commission charge of just GBP8 and no
periodic administration charges.
SimplyStockbroking's charges are the lowest available compared
to the other major 'dealing-only' brokers, offering savings to private
investors of over 40% for online deals and over 80% for trades placed over
the telephone.
In addition and unlike a number of other brokers,
SimplyStockbroking does not levy account 'inactivity fees'.
Stephen Pinner, Chairman of SimplyStockbroking said,
"Since we launched, our services have been growing in
popularity due to our high quality of service coupled with the lowest
possible charges. We have listened to our clients and they want additional
services such as ISA's where they can also take advantage of trading without
the threat of capital gains tax or additional income tax. We have acted upon
this demand by launching the SimplyStockbroking ISA.
The increase in ISA subscription allowances now available to
the over 50's and available to all from April 2010 makes a shares ISA even
more advantageous. The fact that our service carries no fixed annual
maintenance charge will be a welcome benefit to the many thousands of private
investors."
Self Select ISA Charge Comparisons
Annual ISA Charges Barclays From GBP34.50 (GBP35.25 from 1st January 2010) to Stockbrokers GBP57.50 (58.75 from January 2010) Selftrade GBP40.25 (GBP41.25 from 1st January 2010) Halifax From GBP29.80 (GBP30.53 from 1st January 2010) to Sharedealing GBP114.95 (GBP117.45 from 1 January 2010) NatWest GBP28.75 (GBP29.37 from 1 January 2010). SimplyStockbroking GBP10 maximum, assuming 5 holdings with 2 dividends paid pa.
Commission Comparisons
Commission Commission Savings with per per Telephone SimplyStockbroking Online trade Barclays GBP12.95 GBP65 Online: GBP4.95 Stockbrokers (38%) Telephone: GBP57 (88%) Halifax GBP11.95 GBP30 Online: GBP3.95 Sharedealing (33%) Telephone: GBP22 (73%) NatWest GBP15 GBP35 Online: GBP7 (47%) Stockbrokers Telephone: GBP27 (77%) Selftrade GBP12.50 GBP12.50 Online: GBP4.50 (36%) Telephone: GBP4.50 (36%) SimplyStockbroking GBP8 GBP8
Data Source: published online details October 2009.Commissions
based on trade value of GBP3,000.
For further information:
Visit our web site on www.simplystockbroking.com
Stephen Pinner or John Douthwaite on +44-(0)20-7042-9910, stephen.pinner at simplystockbroking.com, john.douthwaite at simplystockbroking.com
Tags: London, SimplyStockbroking, United Kingdom