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Legal, risk and tax

Is PrimaryBid regulated by the Financial Conduct Authority (FCA)?

PrimaryBid Limited is authorised and regulated by the Financial Conduct Authority (FRN 779021) and is a limited company registered in England and Wales (No. 08092575) with its registered office at Fifth Floor, Office B3, 80 Victoria Street, Cardinal Place, London SW1E 5JL.

Can I make investments through PrimaryBid via my ISA or SIPP?

Yes, but only if you apply to an offer through your broker. Unfortunately, due to HMRC rules, if you apply to an offer through our app or online, you will not be able to receive your shares or bonds directly into your ISA or SIPP account.

If your broker is already working with PrimaryBid, you can ask your broker to place your application for an offer from your ISA or SIPP account. Please contact your broker for more details. If your broker doesn’t work with us yet, ask them to partner with PrimaryBid!

An alternative is to buy the shares or bonds through us with a debit card and transfer them to a General Investment Account for the same broker where you hold your ISA or SIPP. You can then perform a "Bed & ISA", a process where you sell the shares or bonds from your investment account and then immediately buy them back with ISA or SIPP funds. You would need to take advice as to whether any tax liability arises on the disposal and to confirm whether any costs would be incurred from your broker for dealing. You will need to contact your broker in regard to this.

How will I be categorised in relation to PrimaryBid for FCA purposes?

Individual investors are classified as retail clients which affords the highest level of protection under the FCA rules.

What are the risks of investing via PrimaryBid?

Investing in shares or bonds involves a significant degree of risk including loss of capital, rarity of dividends, lack of liquidity and potential for dilution and should only be done as part of a diversified portfolio. The value of an investment and the income from it could go down as well as up. The return of your investment is not guaranteed and you may get back less than you originally invested. Past performance is not an indicator of future performance.

It is important that you read the Risk Warnings before considering any investment.

Can you explain the tax implications of participating in an offer?

We offer an execution-only service and we are not able to offer you any form of advice. Please seek independent advice where necessary regarding tax implications.

Are shares or bonds bought through PrimaryBid subject to any taxes or levies?

Shares or bonds bought in the primary market are exempt from Stamp Duty Reserve Tax (SDRT). This is true for both Main Market and Alternative Investment Market public company transactions.

Shares or bonds purchased in the secondary market (for example, shares purchased as part of a block trade) may incur SDRT and/or be subject to The Panel on Takeovers and Mergers (PTM) levy.

For confirmation of all charges, taxes or levies, please refer to our Tariff Charges.