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Self Select Portfolio

Our charges

The following charges stated below apply to ALL accounts including, Portfolio Investment Account, Portfolio Joint Investment Account, Portfolio Stocks and Shares ISA Account, Portfolio Stocks and Shares Junior ISA Account and Portfolio SIPP Account.

Initial charges

Set up cost No charge
Cash payment in No charge
Transfer in No charge, except for SIPP (see 'Additional SIPP charges' for pension transfer in charges)

Ongoing charges

Annual administration charge

(applicable on all investments, including unit trusts, OEICs and cash)

This charge applies to each account separately. It is tiered within bands as follows:

  • 0.85% per annum for the first £100,000;
  • 0.50% per annum between £100,000 and £500,000; and
  • 0.30% per annum above £500,000.

This charge is subject to a minimum of £12.50 per quarter. This charge is calculated daily, based upon the value of your investments and charged to the account at quarterly intervals on 31st March, 30th June, 30th September and 31st December each year.

Other charges

Dividend administration charge £2 per dividend administration charge for each distribution (including accumulation distributions) allocated to the account, limited to the value of the distribution allocated where less than £2.
Receiving statements, contract notes and business confirmations in paper format £10 plus VAT every 6 months
Receiving Company Reports and Accounts £10 per report for supplying on request, a company’s Interim Report or Annual Report and Accounts
Arrange company meetings £10 per occasion to arrange for you to attend and vote at company meetings
Cash withdrawal paid to your nominated bank account No charge
Same day payment Same day payments will incur a charge of £20
Cash transfer out to another provider £15
Stock transfer to another provider or in your name £15 per holding

Account closure fee

£25 plus VAT

Taxes and Levies

Stamp Duty or Stamp Duty Reserve Tax (SDRT)

Stamp duty or SDRT on all UK share purchases is payable at the prevailing rate at the time of dealing. The current rates are:

  • 0.5% SDRT on UK share purchases settled through CREST, rounded up to the nearest 1p.
  • 0.5% stamp duty on UK share purchases not settled through CREST, rounded up to the nearest £5.

Stamp Duty apply primarily to transactions when you buy:

  • Shares in a UK company
  • Shares in a foreign company with a share register in the UK
From 28 April 2014, SDRT & Stamp Duty will no longer be chargeable on transactions in eligible securities on London Stock Exchange’s AIM and High Growth Segment.
PTM (Panel on Takeover and Mergers)

£1 on all UK share deals over £10,000

Additional SIPP (pension) charges (For complete charges, please see Carey pensions full fee schedule on our website). The following SIPP charges are in addition to the above charges. All SIPP fees are subject to VAT, which is currently 20%.

Establishment fee

Establishment fee

No charge

Annual administration fee

Annual fee

Annual fee depends on the value of your SIPP.

  • £90 per annum for a SIPP value below £50k
  • £140 per annum for a SIPP value £50k and above

The first year fee is from the date of establishment to 31st December and charged in advance. Renewals are on 1st January each year thereafter.

Transfers

Transfer in from a Personal Pension £60 per transfer

Transfer in from Occupational Scheme

£250
In-specie transfers (transfer in) or in-specie contributions

For the transfer of assets other than cash, excluding property and non-standard investments.

  • £150 for in-specie transfers in with stock of 10 and below
  • £250 for in-specie transfers in with stock of 11 and above
Transfer in from overseas / international Time cost, please contact us. The applicable rate will be advised beforehand.
Transfer out to any UK registered pension scheme
  • £150 for full or partial cash transfers
  • £300 for full or partial cash and in-specie transfer of assets

Transfer out to any overseas scheme

£500

Annuity Purchase - Partial or cash transfers £300

Taking benefits

Flexi Access Drawdown

Establishment of Flexi Access Drawdown and payment of Pension Commencement Lump Sum (PCLS) £250 chargeable at each crystallisation event (i.e. when you access your pension)

Drawdown payments

Drawdown payments
  • £200 for monthly payments
  • £150 for quarterly payments
  • £125 for bi-annual or annual payments
  • £100 for ad-hoc payments (Payments outside of payroll payments made on 28th of month)

Uncrystallised Fund Pension Lump Sum (UFPLS)

£250

Small Pots payment

£125 (For values of £10,000 or less)
Closure of Scheme following Flexi Access / UFPLS payment One year’s annual administration fee (see above)

Capped Drawdown

Calculation of benefits £150 per quote (in advance). Applies to partial, full or phased.
Review of Pension Income Limits £150 charged at each review

Banking (Sharia compliant bank account with Al Rayan Bank plc)

CHAPS payments

£25

International payments

£30

Faster payments

£5

Other charges

Death Claims

£500. However, if a complex case it may be higher and move to time-cost basis @ £150 p/h

Divorce - partial transfer £300. However, if a complex case it may be higher and move to time-cost basis @£150 p/h
Divorce - full transfer £500. However, if a complex case it may be higher and move to time-cost basis @ £150 p/h

Additional valuations

£100

Client/Trustee meetings

£200 plus travel. Hourly rate for senior member of team/Trustee attendance. The applicable rate will be advised before the meeting Is set up.

Notes:

The investments you choose may have their own initial and annual charges and bid/offer spread, set and levied by the manager of that investment. Please read the Key Investor Information Document (KIID), prospectus, factsheet and the key documents for your chosen investment carefully. Stamp duty may also be applicable for certain shares.

The charges above (excluding SIPP) will be shared between JBS and Simply Ethical as agreed between both parties. Simply Ethical or JBS does not receive anything from the above SIPP charges.

The SIPP allows access to standard or mainstream investments only. Please contact us, should you have any queries.

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