DRIS on VCT's

[barchid]

I wonder if anyone can help please ?
I have a portfolio of vct stocks but not wanting to hold them in certificated form I keep them in a low cost platform, which means I can't use the dris and thus have to take my dividends tax free in cash.
I know I can get around this by having a sponsored crest account, but the only people I find offering this service, apart from charging for it, also have very high trading costs.
Am I missing an easy way around this problem ?

[scotia]

I know that it doesn't really answer your question, but why do you not hold your DRIS VCTs in certificated form?
I hold mine in certificated form, and only transfer them to a Charles Stanley Direct nominee account (free of charge) when I want to sell them.

[barchid]

Reason I prefer not keeping the certificates is largely security and, if I'm honest, an element of laziness.
The sponsored crest is a very good idea but I think the last platform that did it was TD, and I'm pretty sure they've become a part of II, who definitely don't offer it. I guess I really need to make a decision on whether or not I move to certificates going forward, hopefully the dris schemes won't be curtailed by the government....

[james188]

I use Charles Stanley Direct who still offer Sponsored CREST - although I hold most of my VCT shares in certificated form - aside from secondary market purchases. I think that the CS Direct trading costs are OK, although not the absolute cheapest.

[barchid]

That is most helpful, thanks !
It doesn't appear on their website but I didn't expect it to which is why I asked the forum if someone knew, I will call them tomorrow.

[UncleEbenezer]

I use Charles Stanley Direct who still offer Sponsored CREST.

... but they seem to be very coy about their charges.

[james188]

I opened my CS Direct Sponsored CREST account around three years ago - the lowish cost Charles Stanley offering. I have heard a rumour that they may now only offer that version to existing account holders. Quite a few brokers only offer Sponsored CREST if you sign up for their advisory service rather than execution only and that is obviously more expensive, although if you do minimal trades the key question is the level of any annual inactivity fee. From distant memory, the other brokers I considered before opting for CS Direct (they were then the cheapest) included Killik & Co and Redmayne-Bentley.

[barchid]

James, thanks for that tip, I have just called CS Direct but they tell me that all accounts opened in the last couple of years have to be nominee only, so another one bites the dust.
I guess I just go certificated, which seems a retrograde step in this digital age but there we go, you can't win them all

[Gostevie]

I opened my CS Direct Sponsored CREST account around three years ago - the lowish cost Charles Stanley offering. I have heard a rumour that they may now only offer that version to existing account holders. Quite a few brokers only offer Sponsored CREST if you sign up for their advisory service rather than execution only and that is obviously more expensive, although if you do minimal trades the key question is the level of any annual inactivity fee. From distant memory, the other brokers I considered before opting for CS Direct (they were then the cheapest) included Killik & Co and Redmayne-Bentley.

James, thanks for that tip, I have just called CS Direct but they tell me that all accounts opened in the last couple of years have to be nominee only, so another one bites the dust.
I guess I just go certificated, which seems a retrograde step in this digital age but there we go, you can't win them all

I completely agree with all of the above. Seems crazy that in 2018/19 the only realistic way to hold shares in my own name is to have paper certificates, that living in a block of flats may well be stolen before I even see them. The nominee system that currently exists is, in my opinion, dreadful and I 100% support ShareSoc's efforts to change it.

Gostevie

[CFFrost]

Hello all,and sorry to take this off on a slight tangent - but I recently switched to DRIS for PVN (but mot my PGI). While I received my divi receipt for PGI for the recent dividend, I have had no word from Beringea about the 25.25p dividend now assigned into the DRIS. I should call them I suppose, but wondered what the standard communication is?

[scotia]

Hello all,and sorry to take this off on a slight tangent - but I recently switched to DRIS for PVN (but mot my PGI). While I received my divi receipt for PGI for the recent dividend, I have had no word from Beringea about the 25.25p dividend now assigned into the DRIS. I should call them I suppose, but wondered what the standard communication is?

You should have received your DRIS share certificate in the mail - I think mine arrived around the 21st of December. Maybe the Christmas post has delayed your certificate. The Registrar is Signal Shares - http://www.signalshares.com. If you login you should see the number of shares allocated, and there should be contact details for communicating with them.