How to buy KR1 shares on London’s NEX exchange and get tax free gains in your ISA
KR1 (formerly KRYPTONITE1) plc (NEX:KR1) is currently listed on the NEX exchange in London which makes buying shares in the company a seamless task requiring very little know how.
If you maintain an advisory stockbroking account and have an investment manager, your best bet is to enquire directly with them as to whether their company is mandated to deal in NEX exchange stocks, most will, but if for some reason they are not able, please see the step by step guide below.
The most cost-effective way to buy KR1 (formerly KRYPTONITE1) stock is through the UK’s largest execution only broker, Hargreaves Lansdown who have a very user-friendly interface and for NEX trades it charges a very reasonable 1% of the total transaction as a commission.
Take these steps:
- Choose set up a “Fund & Share Account” on the Hargreaves Lansdown website.
- Once you have completed the set up process and funded your account, you can then select the green “Deal” tab, from there you can then search for KR1 plc (NEX:KR1).
- Depending on the days liquidity, it may be only available for telephone dealing, if this is the case you can just call the number of the dealing team supplied, and instruct the dealer to execute the purchase of stock or it may be that you need to leave an order with him.
If you have any problems or need some further guidance please do not hesitate to contact the companies broker, Peterhouse Corporate Finance via phone, +44 207 469 093 0.
A quick guide to ISA’s and tax efficient investing
In any given year, you can deposit a maximum of £20,000 into an investment ISA.
You can move your KR1 shares into an ISA to get tax free gains.
You don’t pay Capital Gains Tax (CGT) on gains made within an ISA with your KR1 shares — great if you exceed the £11,300 annual CGT allowance.
CGT is a tax you’ll have to pay on the gain you make when selling things such as shares, a second home (you don’t pay capital gains on selling your first home) and jewellery.
So if you buy shares at £1,000 and then sell them for £1,500, you’ve made a £500 gain. You might then have to pay tax on that. But it’s important to understand that you’re allowed to make £11,300 of gains this tax year (2017/18) tax-free outside an ISA. So you would ONLY gain using a stocks andshares ISA in a year where you were making total gains over £11,300.
With all the confusion surrounding tax liabilities on cryptocurrencies you can be rest assured that by purchasing shares directly into an ISA, you will bypass any tax event. If you already hold shares in a regular trading account, you can instruct your broker to place a Bed & ISA trade, which will then move the stock into the protective ISA wrapper, exempting you from tax liabilities thereafter.
Once again, the leading UK retail broker Hargreaves Lansdown provide the easiest service at http://www.hl.co.uk/investment-services/isa.
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