Portfolio Administration
We have a range of services to keep administration and form filling to a minimum.
Nominee Service
This will significantly reduce the amount of paperwork normally associated with stock market investments and conform with the Trustee Act 2000.
We will:
- Ensure easy and efficient electronic settlement of your transactions.
- Collect all dividends.
- Pay income each quarter direct to your bank or building society account, or reinvest your dividends if you prefer and send you a statement. Income can be paid monthly by special arrangement.
- Provide consolidated tax vouchers (CTVs) for both UK and foreign income, together with comprehensive income schedules, so you do not need to collect tax vouchers and maintain records for your tax return.
- Provide a complete Capital Gains Tax schedule; this report includes, where relevant, not only indexation but also taper relief.
- Handle all corporate actions such as rights issues and takeovers.
- Set up a deposit account for holding dividends and any other cash in your portfolio. Funds on deposit with Brewin Dolphin Ltd are held on an instant access basis and attract a highly competitive rate of interest due to the total amount of money we hold on deposit on behalf of our clients.
- Provide a system for client using our Nominee Services to be able to vote electronically at Company Meetings: Vote Your Shares
The Discretionary Portfolio Management Service uses a Nominee company to register and administer your holdings for you, collect and distribute dividend and interest income and provide comprehensive year end tax information.
You will be kept fully informed of any changes to your portfolio by receiving a contract note, usually with an explanation of the action taken. You will also receive an investment commentary at least every six months, with a valuation and schedule of interest and dividends paid.
One of the most useful aspects of this service is our comprehensive end of year tax schedule. This includes tax certificates for UK and overseas income, a schedule of transactions for the year and CGT computations of capital gains. This is invaluable when preparing your annual tax return and includes, where relevant, not only indexation but also taper relief. A sample of this year end pack is available on request.
Security of Assets held in our Nominee.
CREST Personal Membership
CREST is the central settlement system for the London Stock Exchange with links to other European stock markets. For trustees, or individuals, who do not have the power to delegate to a Nominee, a personal account in CREST can be a good alternative:
All shareholdings will be registered in your own name and held in electronic form in your own account in CREST. Settlement of your transactions will be handled electronically by us upon receipt of your instructions.
Brewin Dolphin Ltd will act as a Sponsor for clients who wish to take this option. CREST members will have their own account in CREST, like a bank account, in which your shareholdings will be held in electronic form. Proof of title will be your name and address on company registers as it is today. We, as your Sponsor, will provide statements detailing all your shareholdings and any movements of stock.
Cost of Sponsored Membership
Clients who elect to become a CREST Member will not incur any extra charges above our normal fees and commissions. Just as we do not make any additional charges for those who hold their shares in one of our UK nominee accounts.
How to Become a CREST Personal Member
On request we will send you a CREST Personal Membership agreement, which will set out your rights and obligations as a member of CREST, and our Terms and Conditions setting out our obligations to act on your instructions as your Sponsor. When these formalities are complete we will guide you through the simple process of dematerialising your shareholdings into your CREST account.