Your statements

If you’re looking to understand your statements we’re here to help. Simply select the statement you have questions on.

  • Understanding costs and charges

    The new costs and charges statements will help you understand what charges you pay to either Bank of Scotland Share Dealing or to the Investment Manager(s) of funds and trusts you’ve chosen to invest in.

    We’ve also created interactive guides to help you understand the new statements:

    Questions and answers

    I’m not happy with the investment manager(s) charges

    If you’re not happy with the ongoing charges on your investment(s) and would like to move your money into something with lower charges, you can use our Funds Centre to filter over 2,000 funds.

    Ready-made investments which may include lower cost funds.

    Does a costs and charges statement replace my account statement?

    No, you’ll get a costs and charges statement and your usual account statement. The costs and charges statement outlines all the costs and charges. You will continue to receive account statements on a quarterly basis.

    Where can I download the statement?

    The cost and charges statement will be available to download alongside your existing quarterly statement.

    Who am I paying charges to?

    Some charges will be paid to Bank of Scotland Share Dealing, while others will be paid to the investment manager(s), the cost and charges statement will break this down for you.

    • Bank of Scotland Share Dealing charges are always provided to you when you place trades, or when we apply additional charges e.g. transferring investments out of Bank of Scotland to another broker.
    • Charges paid to the Investment Manager(s) can be found on the Key Investor Information Documents (KIID) for funds and the Key Information Documents (KID) for other investments such as investment trusts.

    The breakdown of charges and where they were paid is shown on the Total Cost and Charges section.

    How are my charges paid?

    The charges are paid in different ways depending on what the charge is and who has made it. When buying shares your dealing commission and any other transaction charges will be added to the total cost of your purchase.

    Our administration charges are usually collected either from your nominated bank account or your share dealing account depending on how your account is set up when the fee is payable.

    Charges by the Investment Manager are different to our ongoing charges. They are built into the investment and are taken out of the fund or investment itself. These charges can be viewed on the Key Investor Information Document (KIID) for the investment, or by contacting the investment manager. The charges are usually shown as a percentage. We have included the amounts on the statement as a monetary amount.

    Where can I find all of your charges and your Investment Manager(s) charges?
    • Bank of Scotland Share Dealing charges can be found on our website or in our brochure.  
    • Charges paid to your Investments Manager(s) are shown in the documents for each fund or trust. If you have any questions about the charges paid to the Investment Managers you should contact them directly. You can find further information about how charges might affect your investments in our Investment Trust and ETF or Fund Chargesdocuments.
    What is the Stock Valuation table showing me?

    This table shows the stock movement in and out of your account, it doesn’t take into account any cash that you have.

    A

    The value of stock at the start of your statement period.

    B

    Any stocks movement (inwards) for example, a purchase of shares you have made during the year.

    C

    The total of the value (A) and stock movements in (B).

    D

    Any movement of stock out of your account - for example, sales or transfers out.

    E

    The value of your stock at the closing point of your statement.

    F

    Your return this period, also known as the profit or loss. We work this out by adding the outward movement of stock (D) to the total investment value at the end of the statement period (E). We then deduct the total investments for this period (C).

    What does “return this period” mean?

    This is the total profit and loss for the period of your statement.

    Your ‘Return’ is the stock value on the closing date of the statement (E), plus the value of the sales you made and of any stock moved out of your account (D). We then deduct the total investments for this period (C).

    Your ‘Return’ does not include dividends where you have taken the cash and paid it out to your bank account.

    We show this to help show how the investments you’ve made performed in the statement period.

    A

    The value of stock at the start of your statement period.

    B

    Any stocks movement (inwards) for example, a purchase of shares you have made during the year.

    C

    The total of the value (A) and stock movements in (B).

    D

    Any movement of stock out of your account - for example, sales or transfers out.

    E

    The value of your stock at the closing point of your statement.

    F

    Your return this period, also known as the profit or loss. We work this out by adding the outward movement of stock (D) to the total investment value at the end of the statement period (E). We then deduct the total investments for this period (C).

    Why are dividends and cash not included on the statement?

    We’ve not been able to include cash movements or dividend payments within this statement. Dividend payments are included in your annual consolidated tax certificate, which will be issued alongside your statement in April of each year.

    Will my statement include all of my investments?

    Your statement will include all of the investments you have made from 6th January 2018- 5th January 2019.

    What does “Estimated effects of your charges on your investment return” mean?

    This shows what you’ve paid out from your share dealing account and estimates what you could have made if the charges hadn’t been paid.

    How do you work out the percentages in the third table?

    The third table shows the estimated effect of charges on your investment return (profit/loss figure for the period). This is an estimate because the way investment manager(s) apply their charges can vary, and we can’t be certain what you might have done if there were no charges.

    A

    The value of stock at the start of your statement period.

    B

    Any stocks movement (inwards) for example, a purchase of shares you have made during the year.

    C

    The total of the value (A) and stock movements in (B).

    D

    Any movement of stock out of your account - for example, sales or transfers out.

    E

    The value of your stock at the closing point of your statement.

    F

    Your return this period, also known as the profit or loss. We work this out by adding the outward movement of stock (D) to the total investment value at the end of the statement period (E). We then deduct the total investments for this period (C).

    G

    Is your percentage return (profit/loss) for the statement period. We work this out by dividing your return (F) by your total asset investments (C).

    H

    We calculate this figure by applying your percentage return (G) to the total charges you paid, to work out how much this amount might have changed had the charges not been paid. We then add the total charges paid, plus the amount the charges would have grown, to your return (F). We do this to show how charges have affected your return in the period, so you can compare this to what you actually have

    I

    Is your estimated percentage return, had no charges been applied. We work this out in the same way as (G) – you can compare the two to see how your investments could have changed.

    How are the charges paid to the Investment Managers calculated?

    We calculate these charges based on the value of your investment throughout the year, or the period in which you held it during the year and the information from the Investment Manager(s) showing the percentage charges for each fund or trust.

    Because Investment Managers will calculate and apply their charges differently, and do not provide exact monetary amounts charged for each investor, the amount you will have actually paid may differ from the amount we’ve calculated. We show our calculation to illustrate how much your chosen funds or trusts have cost you.

    What is included in the miscellaneous charges?

    This section of your statement includes additional charges you have occurred throughout the statement period. These charges could include:

    • Transferring out
    • Cheque withdrawal
    • Copy CTC/Tax vouchers
    • Ad-hoc statements and valuations
    • Voiding ISA’s, ISA repairs
    • CHAPS payments
    • Failed payments such as cheques or failed DDI
    • Certificate withdrawal requests
    What are the Transaction Charges?

    Whenever you place a trade, you will pay a transaction charges which we provide you before any trade. The transaction charges include:

    • Online dealing commission £12.50
    • Telephone dealing commission £25
    • Reduced commission (Bank of Scotland colleagues)
    • Stamp duty on applicable purchases (0.5% of deal value)
    • PTM levy on trades over £10,000 - £1 per applicable trade. When you buy or sell UK shares and the trade value is more than £10,000, you pay a £1 levy to the Panel of Takeovers and Mergers.
    • Foreign exchange conversion rate charge on international trades (1.25%), we adjust the available exchange rate by this percentage when you buy and sell international shares.
    How is the foreign exchange conversion charge calculated?

    A currency conversion must be made for an international trade, either from GBP into a foreign currency to buy, or from a foreign currency into GBP to sell. As our fee, when we do this we add 1.25% to the exchange rate for buys, and take away 1.25% for sales. An indicative exchange rate will be shown prior to trading and the final rate will be shown once the trade is completed.

Frequently asked questions

1) I have received a statement, but not tax certificate, why is this?

Tax Certificates cover a whole tax year and as such are published shortly after the tax year end usually in May.

2) How do I use my statement to fill out my tax return?

Unfortunately we do not provide tax advice. If you need advice, please contact an appropriate professional financial advisor. Information can also be supplied by your local Tax Office.

3) What is my book cost and how is it calculated?

The book cost is the total original cost including charges. If you have only made purchases on one stock the book cost will be the total of those purchases.

When stock is sold from that total, the percentage of the stock sold is taken from the total of the amount paid.

For example:

  • Bought 100 LLOY for £100
  • Book cost would be £100 for 100 shares
  • Bought another 100 LLOY for £200
  • The book cost would be £300 for 200 shares
  • Sell 100 shares (this is 50% of the number of shares)
  • The book cost would be £150 for 100 shares.

Please note, that book costs can be affected by corporate actions and transfers into your account.

4) Can I change my book cost?

We can change your book cost if you have made a transfer or certificate deposit. Your book cost can't be changed for sales or purchases. We can't accept requests by email. Changes can be completed on our Web Chat service.

5) What is the Stock Valuation?

The Stock Valuation gives you detailed information on your stock holdings in your account. The information is based on the close of business prices applicable to the statement period. The valuation includes all stock held in your account. Any stocks you sold before the statement period end date are not included. This does not include information regarding accrued interest on interest bearing stocks. This can be obtained by contacting us directly using the telephone number on the covering letter.

6) What is the Market Price?

The closing price of investments on the valuation date. For shares, the closing price is calculated and published by the London Stock Exchange or relevant exchange and is always shown in sterling. For Unit Trusts, the price quoted will be the last bid price issued by the Fund Manager that day. For Open Ended Investment Companies (OEICs), the price will be the last single price issued by the Fund Manager on that day.

7) What is the settlement date?

This is the date as specified on your trade confirmation or in the Cash Movements Schedule. This relates to the date that the trade was settled, not the execution date.

8) What is the Portfolio Valuation?

This is a summary of the valuation of your account.

9) What is my Cash Movement Schedule?

The Cash Movement Schedule summarises the movements of money and stock as a result of a purchase or sale, cash payments in/out of your account and interest and fees paid. It includes trade information about payments for purchases, sales and also information on corporate actions and dividends received on your investments. For sales and purchases the information provided is based on the settlement date.

  • Debits (DR) - the amount shown is the amount you have paid including dealing charges and tax.
  • Credits (CR) - the amount you receive after dealing and other charges have been deducted.

10) What is my non bargain related Cash Movement Schedule? 

This is a summary of all other transfers of stock in and out of your account and includes corporate actions. If the transaction type is ‘miscellaneous transfer’, it will be one of the following which you should have received details of previously:

  • stock transferred into or out of your account
  • certificates that have been deposited into or withdrawn from your account
  • a corporate action
  • an error correction.

11) What is my Cash Valuation?

This is the value of the cash held in your account.

12) What is my Overall Valuation?

This is the value of all the stock and cash held in your account.

13) How is the profit/loss figure calculated?

This is the overall profit or loss for all your shares as a % of the book cost.

14) How do I close my account?

Please contact us on 0345 606 11 88 to help with this process, please have with you your most recent statement and your PIN. Please note, we can accept a written instruction for this as long as your account does not contain any stock/cash and the instruction is signed by you.

15) Why is the Market Price showing as £0.00 for a stock?

This could be because the stock has been delisted or is an untraded asset.