hattrick_12a
Registered User
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Folks
I am thinking of opening a Keytrade account as there costs seem to be the lowest I have come accross for a fairly passive investor. And I would be holding for the long term, so the no annual fees appeal to me. But before I do I would appreciate anyones advice on the whole tax issue.
I understand that I would have to look after this entirely myself, which is fair enough. But I have so many questions before I start.
Firstly, should I get tax advise before I start?
The reason being that I should know my tax liabilities before I invest, therefore I can determine whether it is worthwhile before I start or at least I would know the costs. I would be small scale at the start but would hope to add to it each Year. Since there is many options available through KT would it be advisable to find out my tax liabilities of each product/fund/ETF/share before investing in one? There is a few different markets on offer via KT so this would vary. Maybe I am out of my depth or maybe I am even looking at this with too much detail. Especially in that it will be a few thousand iniattially, but I would plan for it to grow with lump sum investments over time.
This link provides a good analysis of my predicament http://www.askaboutmoney.com/showthread.php?t=11227 but it is still not clear, even though it is explained well. http://www.askaboutmoney.com/showthread.php?t=46716&highlight=keytrade is another on this.
Some Questions?
If I was buying longterm, would the profit be considered as income tax after selling or CGT? Anyone know what revenue has to say on this?
Do KT offer a multi denominated account? Obviously there is still the currency risk here.
Costs can be found here http://www.keytrade.com/pdf/tariffs_en.pdf Excl. stock market taxes
Markets Markets Include
European Markets Amsterdam, Brussels, Paris, Frankfurt (Xetra), Milan (Borsa Italiana)
Euronext Amsterdam, Brussels, Paris
London (SETS)
Switzerland SWX & virt-x
American Nyse, Nasdaq, Amex, OTC-BB
Some Questions on the above Costs
What is SETS?
From the link above it says the cost is per order and per block, so should the cost above be times 2 as per order and per block, therefore cost = 2*24.95 for example?
What is the cost to selling a block of shares?
Other Products Charges they have available that I not 100% familliar with (but if anyone would like to shed a light on please do?):
Product Currency Cost
Warrants Markets €14.95
Bonds Markets €/£/$ 0.50%(min. 29.95)
Funds € 9.95 (entrance fee)
Some Questions on the above Costs of the Other Products
What are the exit fees?
Through Keytrade you can buy the following as an Irish resident:
Irish resident buying FTSE stock through a Euro-Non Irish(Belgian) Broker
Irish resident buying American stock through a Euro-Non Irish(Belgian) Broker
Irish resident buying Euro(e.g. Amsterdam, Brussels, Paris) stock through a Euro-Non Irish(Belgian) Broker
Irish resident buying Switzerland stock through a Euro-Non Irish(Belgian) Broker
Anyone know the tax implications for any of the above?
Other Questions on Other Charges
What are the tax charges on interest earned from a savings acount in another euro country e.g. Belgium?
I am thinking of opening a Keytrade account as there costs seem to be the lowest I have come accross for a fairly passive investor. And I would be holding for the long term, so the no annual fees appeal to me. But before I do I would appreciate anyones advice on the whole tax issue.
I understand that I would have to look after this entirely myself, which is fair enough. But I have so many questions before I start.
Firstly, should I get tax advise before I start?
The reason being that I should know my tax liabilities before I invest, therefore I can determine whether it is worthwhile before I start or at least I would know the costs. I would be small scale at the start but would hope to add to it each Year. Since there is many options available through KT would it be advisable to find out my tax liabilities of each product/fund/ETF/share before investing in one? There is a few different markets on offer via KT so this would vary. Maybe I am out of my depth or maybe I am even looking at this with too much detail. Especially in that it will be a few thousand iniattially, but I would plan for it to grow with lump sum investments over time.
This link provides a good analysis of my predicament http://www.askaboutmoney.com/showthread.php?t=11227 but it is still not clear, even though it is explained well. http://www.askaboutmoney.com/showthread.php?t=46716&highlight=keytrade is another on this.
Some Questions?
If I was buying longterm, would the profit be considered as income tax after selling or CGT? Anyone know what revenue has to say on this?
Do KT offer a multi denominated account? Obviously there is still the currency risk here.
Costs can be found here http://www.keytrade.com/pdf/tariffs_en.pdf Excl. stock market taxes
Markets Markets Include
European Markets Amsterdam, Brussels, Paris, Frankfurt (Xetra), Milan (Borsa Italiana)
Euronext Amsterdam, Brussels, Paris
London (SETS)
Switzerland SWX & virt-x
American Nyse, Nasdaq, Amex, OTC-BB
Some Questions on the above Costs
What is SETS?
From the link above it says the cost is per order and per block, so should the cost above be times 2 as per order and per block, therefore cost = 2*24.95 for example?
What is the cost to selling a block of shares?
Other Products Charges they have available that I not 100% familliar with (but if anyone would like to shed a light on please do?):
Product Currency Cost
Warrants Markets €14.95
Bonds Markets €/£/$ 0.50%(min. 29.95)
Funds € 9.95 (entrance fee)
Some Questions on the above Costs of the Other Products
What are the exit fees?
Through Keytrade you can buy the following as an Irish resident:
Irish resident buying FTSE stock through a Euro-Non Irish(Belgian) Broker
Irish resident buying American stock through a Euro-Non Irish(Belgian) Broker
Irish resident buying Euro(e.g. Amsterdam, Brussels, Paris) stock through a Euro-Non Irish(Belgian) Broker
Irish resident buying Switzerland stock through a Euro-Non Irish(Belgian) Broker
Anyone know the tax implications for any of the above?
Other Questions on Other Charges
What are the tax charges on interest earned from a savings acount in another euro country e.g. Belgium?