IPSE+/QDOS TLC35, Company Pensions, etc etc etc

[TheFaQQer]

Thanks Malvolio, I will do that. I think I have already got to the point of deciding on IPSE+ rather than the standard offering, seems silly not to for the price difference.

To make it even easier, why not use this handy link to join up?

[Fred Bloggs]

I'll have a look at Hargreaves Lansdown, I'm also looking at the IPSE Futures.

HL have the best on line platform by miles. They are not cheap, 0.45% platform charge, but that doesn't really matter unless you have a bunch of money invested, then it is cheaper to use a flat rate charge platform. I'm now transferring away from HL because of that, but I'm going to miss the HL platform, it's very good.

[IR35 Avoider]

HL have the best on line platform by miles. They are not cheap, 0.45% platform charge, but that doesn't really matter unless you have a bunch of money invested, then it is cheaper to use a flat rate charge platform. I'm now transferring away from HL because of that, but I'm going to miss the HL platform, it's very good.

I though I'd check what HL would charge me. £2250 a year! I'm currently paying £300 a year at Youinvest, and when I swap a couple of funds I hold for equivalent ETFs that will go down to £100. I think there are one or two other places that would also only charge £100. (Interactive Investor, possibly, but I haven't checked for the purposes of this post.)

Really, over £2000 versus £100 for the same core service, and yet somehow countless people on here are willing to recommend HL?

Am I being naive thinking that essentially the purpose of these sites in to be an on-line stockbroker? And that there can't be a a £2000 difference in the quality of their ability to facilitate the buying, holding and selling of shares?

Unless HL are sending an attractive woman round to your house several times a year to provide personal services, I don't get why people are using them. People always talk about the good service, but I can never understand what they mean by that. It's not complicated to buy/sell shares on even the crappiest web site, and there's nothing else a broker needs to do for you. (Am not saying the cheap brokers have crappy web sites, I'm just saying it wouldn't matter if they did.)

[northernladuk]

Join IPSE Today and be a better contractor.

[Fred Bloggs]

I though I'd check what HL would charge me. £2250 a year! I'm currently paying £300 a year at Youinvest, and when I swap a couple of funds I hold for equivalent ETFs that will go down to £100. I think there are one or two other places that would also only charge £100. (Interactive Investor, possibly, but I haven't checked for the purposes of this post.)

Really, over £2000 versus £100 for the same core service, and yet somehow countless people on here are willing to recommend HL?

Am I being naive thinking that essentially the purpose of these sites in to be an on-line stockbroker? And that there can't be a a £2000 difference in the quality of their ability to facilitate the buying, holding and selling of shares?

Unless HL are sending an attractive woman round to your house several times a year to provide personal services, I don't get why people are using them. People always talk about the good service, but I can never understand what they mean by that. It's not complicated to buy/sell shares on even the crappiest web site, and there's nothing else a broker needs to do for you. (Am not saying the cheap brokers have crappy web sites, I'm just saying it wouldn't matter if they did.)

Essentially, you're right. That's why-

1. I said I'm in the process of leaving HL.

2. I pointed out the high fees up front.

I've no negative things to say about HL other than they're expensive unless you have a moderately small account.

[Morgs]

Thanks guys

Everyone's advice is much appreciated. The main thing for me is to have a company pension (as I really do need to make provision and I may as well do it as tax efficiently as possible) and given that returns aren't guaranteed, to keep fees low. I will check out everyone who has been recommended and I have a meeting with my tax adviser on Thursday. I have not always been as aggressive as I legally could have been on tax mitigation, but given the dividend tax, I'm going to be addressing that. On the other hand, as I always leave a decent amount in the company bank account as retained profit (given that I can be 3 - 6 months between contracts at bad times) the corporation tax news is a little more cheerful.

It's the end of my CAP today and I will be signing up with IPSE+ first thing tomorrow

[WordIsBond]

It's the end of my CAP today and I will be signing up with IPSE+ first thing tomorrow

Be very careful about which link you click for IPSE+. They aren't all the same.

[mudskipper]

Thanks guys

Everyone's advice is much appreciated. The main thing for me is to have a company pension (as I really do need to make provision and I may as well do it as tax efficiently as possible) and given that returns aren't guaranteed, to keep fees low. I will check out everyone who has been recommended and I have a meeting with my tax adviser on Thursday. I have not always been as aggressive as I legally could have been on tax mitigation, but given the dividend tax, I'm going to be addressing that. On the other hand, as I always leave a decent amount in the company bank account as retained profit (given that I can be 3 - 6 months between contracts at bad times) the corporation tax news is a little more cheerful.

It's the end of my CAP today and I will be signing up with IPSE+ first thing tomorrow

AIUI, if there's any chance you want to back date pension payments, then you need to get a pension (any one will do!) in place before the new tax year.

Be very careful about which link you click for IPSE+. They aren't all the same.

WHS. This link is the one you need.

[northernladuk]

Argghhhhh!