Share Name Share Symbol Market Type Share ISIN Share Description
Capital Gearing LSE:CGT London Ordinary Share GB0001738615 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +17.00p +0.44% 3,872.00p 3,844.00p 3,873.00p 3,872.00p 3,844.00p 3,856.00p 4,592.00 16:35:30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.2 0.5 16.9 229.0 170.35

Capital Gearing Share Discussion Threads

Showing 8051 to 8075 of 8075 messages
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DateSubjectAuthorDiscuss
03/2/2017
09:24
Thank you very much for your very comprehensive reply Gengulphus. I have sent the tax return in without the OXS loss for 2015-2016. Thank you again for taking the time.
handykart
01/2/2017
13:24
thank you, much appreciated
here and there
30/1/2017
17:06
I made losses last year. The capital gains allowance…can I roll that over into future years aka rolling over losses from previous years? Your "aka" suggests that you think they're the same thing - which they most definitely are not! The answer about rolling over the CGT allowance is simple: no, you can't. It's a use-it-or-lose-it allowance each tax year. The answer about rolling over losses, or carrying them forward to use the more usual technical term, is more complex. An important point to realise about it is that the rules distinguish between 'same-year losses', which haven't yet been carried forward at all, and 'brought-forward losses', which have already been carried forward at least once. Or put another way, the rules about starting to carry a loss forward are different from those about continuing to do so. The basic rule about starting to carry losses forward is that you can only do so if you cannot use the losses against gains realised in the same tax year. Not "don't want to" - "cannot": e.g. if you've realised £10k of gains and £5k of losses in a tax year, you would doubtless prefer to carry the £5k of losses forward and leave the £10k of gains to be dealt with by the CGT allowance. But that's not allowed: the £5k of losses has to be used against the £10k of gains, reducing them to £5k of net gains - which the CGT allowance then deals with, but more than half of the allowance ends up being lost rather than used. The net result of that is that in normal circumstances, you can only add losses to the losses you're carrying forward if you have realised more losses than gains in a tax year - and only the excess of the losses over the gains realised in that tax year can be added to the losses being carried forward. The rule about continuing to carry losses forward is that you only look at brought-forward losses if your net gains after offsetting the same-year losses are above the CGT allowance. If they are, you offset enough of the brought-forward losses to bring the net gains down to the CGT allowance, or all of them if there aren't enough. So if you have £10k of gains realised in the tax year and £5k of brought-forward losses, you don't offset any of them, and so do leave all of the gains to be dealt with by the CGT allowance (unlike the situation above for same-year losses). Any brought-forward losses that are not offset against gains in that way are carried forward again. Gengulphus
gengulphus
30/1/2017
15:55
Question about Tax return OXS shares. They went into administration in Feb 2016. The shares still show in my account, with zero value. Do I have to wait until the company shares have gone to put the loss down, or is it possible to put it down for the year 2015 - 2016 ? The company and its shares appear to still exist (based on the fact that the shares still appear on your account); if so, you haven't yet actually realised the loss. (If you want to make completely certain of that, check the company at Companies House, making certain you get exactly the right company name. If it's been dissolved, then the shares no longer exist and you have realised the loss, on the day it was dissolved - but at less than a year since the company went into adminstration, that's pretty unlikely.) Assuming it hasn't been dissolved, you can submit a 'negligible value claim' about it. If HMRC accept the claim, it allows you to claim the loss as though you actually had realised it (and in the process reset your base value to zero so that you cannot claim the loss again when the company actually is dissolved and you actually cease to own the shares). In the negligible value claim, you name a date on which you claim that the shares were of zero value (or very close to zero - close enough to make their value negligible), and that is the date on which you are treated as having realised the loss. The shares need to have had zero or negligible value on that date - if they don't, HMRC won't accept the claim. And having zero or negligible value is not tested by just looking to see whether they are being traded in the markets - otherwise every private company in the country would have be the possible subject of a negligible value claim. The test is instead whether shareholders are likely to be able to get anything non-negligible from owning the shares. Normally, the administrators send out a letter to all registered shareholders to say whether shareholders are likely to get anything from the administration of the company, once they've reached the point of being able to establish whether that's likely or not. If they say such a return is likely, then a negligible value claim won't be accepted; if they say it is unlikely, I would normally expect HMRC to accept a negligible value claim dated for the date named in that letter (or the date of the letter itself) or later. Note though that if one holds shares in a nominee account, one is not a registered shareholder and so the administrators won't send such a letter to you. In that case, you probably want to write to the adminstrators asking whether shareholders are likely to get anything out of the administration, and if the answer is no, how early they were able to say so. The net result of that is that in order to get HMRC to accept a negligible value claim to treat the loss as being realised in the 2015/16 tax year, you need to name 5 April 2016 or earlier in the claim, and HMRC need to accept that the shares really were of zero or negligible value on that date - and the best way of getting HMRC to accept that is for the administrators to have said no return to shareholders is likely by that date. I'm afraid I'm rather doubtful that that will have happened for a company that went into adminstration only about 1-2 months earlier, so I'm not hopeful about you getting the loss accepted for the 2015/2016 tax year. Having said that, I certainly don't know the facts about OXS, and even if I did, I don't know just how HMRC would view them. I.e. that answer is very much a general impression / opinion rather than certain knowledge. If I did want to claim the loss for the 2015/2016 tax year, I think my approach at this late stage would be to submit the tax return without including the loss, send off the enquiry to the administrators if needed, and then if it looked as though a negligible value claim would be accepted, submit one. If the claim is accepted, then amend the tax return to reclaim the overpaid CGT. For details about what's needed in a negligible value claim, see https://www.gov.uk/government/publications/negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-hs286-self-assessment-he Gengulphus
gengulphus
30/1/2017
12:01
Please help asap as I am filling in forms as we speak!!! I made losses last year. The capital gains allowance…can I roll that over into future years aka rolling over losses from previous years?
here and there
28/1/2017
11:43
Question about Tax return OXS shares. They went into administration in Feb 2016. The shares still show in my account, with zero value. Do I have to wait until the company shares have gone to put the loss down, or is it possible to put it down for the year 2015 - 2016 ? Thanks for any replies.
handykart
20/12/2016
10:27
David Many thanks G2
geordy2
19/12/2016
21:12
What were the terms? I would show a sale of the old shares with zero loss or gain, and a buy of the new shares at the same cost. A note by each share should satisfy the tax man. I am not qualified to give advice.
david77
19/12/2016
18:52
How would you show the reverse takeover of fastnet equity to become Amryt Pharma in the CGT calculator. Thanks G2
geordy2
27/9/2016
22:10
Gengulphus Appreciate what you say. Many thanks for the reply.
seroserio
27/9/2016
09:20
seroserio, Sorry, but I don't do this sort of stuff by private message, email, etc, only on the boards - no exceptions. Nothing personal - I just have limits on how I'm willing to use my time, and this is one of them: I regard time spent on private replies to financial questions as not well spent, because only one person can benefit from them, because any mistakes I make are less likely to be corrected, because others cannot fill in for me if I don't know the answer or am unavailable at the time, and a few other reasons. I will say very briefly that no, I've no real knowledge of the area your question is about, but that in a situation where I'd made a mistake applying for a financial product, I would go to the provider, explain the mistake and ask them for help sorting it out. Honest mistakes that one sorts out as soon as reasonably possible after realising that they've happened generally cause one much less trouble... Gengulphus
gengulphus
23/9/2016
16:55
Gengulphus I've sent you a PM - hope that is OK.
seroserio
27/6/2016
13:55
Hi david. Now working fine. Thanks for checking.
sleveen
24/6/2016
18:05
Works for me - on Opera, Firefox, and Google Chrome. I've got an ancient computer with Windows XP. I do have another machine running Windows 10 - I'll try that if you are continuing to have trouble.
david77
24/6/2016
16:39
Hi david77 I'm using Firefox and just tried to open your CGT calculator unsuccessfully. Are there any issues with Firefox?
sleveen
15/6/2016
18:25
The stonebanks program calculates gains and losses. It does not try to calculate your tax. It has been around for 10 years or more, and HMRC have always accepted my calcs without argument. The stonebanks calculator provides the figures for your SA108 Capital gains summary.
david77
15/6/2016
17:25
Am I right in saying that the present calculators do not calculate the 10%?
mrx9000
14/6/2016
22:17
Thanks Gengulphus.
mrx9000
14/6/2016
20:15
Well, £22,200 worth of shares for £11,100 return of capital and £11,100 capital gain, since the CGT allowance is £11,100 this year. But you've got the principle right! By the way, I'm not qualified to give advice either. I've a good amount of experience about CGT and am pretty certain of my facts on this one, but I am nevertheless a layman with no formal qualifications with regard to taxation. And yes, the changes in https://www.gov.uk/government/publications/changes-to-capital-gains-tax-rates/changes-to-capital-gains-tax-rates are in effect with regard to gains currently being realised - as it says itself, "This measure will have effect for relevant gains accruing on or after 6 April 2016." It's not in effect for any tax return you might be filling in right now, since that would be a tax return for the 2015/2016 tax year, and gains realised in that tax year will have been realised on or before 5 April 2016. Gengulphus
gengulphus
14/6/2016
18:16
I think that you could sell £22,000 worth of shares = £11,000 return of capital + £11,000 of gain. But I am not qualified to give advice. Wait to see what Gengulphus says.
david77
14/6/2016
16:53
Ok, thanks but say I have one position bought for £100,000 which has doubled to £200,000. How much of that could I sell before incurring CGT? Also am I right in saying that these new rates are now in force https://www.gov.uk/government/publications/changes-to-capital-gains-tax-rates/changes-to-capital-gains-tax-rates so 10% and 20% rates?
mrx9000
14/6/2016
16:43
The CGT calculator should now work on stonebanks.co.uk There are later bits that don't work but there are only there 'cos it doesn't cost me any more if I add bits.
david77
14/6/2016
16:10
mrx9000, If for example I have £100,000 in a trading account (non isa/sipp) and that £100,000 increases to £200,000. I am right in saying that I can take out my initial investment plus the CGT allowance within the tax year e.g. £111,100 (£100,000 initial + £11, 100 CGT allowance) without incurring CGT. Not in general, but you might be able to in some rare circumstances. It depends on how the individual shareholdings have done: CGT is assessed on realised gains and losses, and all realised gains and losses are calculated on individual shareholdings when you sell them, not on account totals. ("Realised" not in the "understood" sense, but the "made real" sense, i.e. no longer a gain or loss that can only be calculated from what you could sell the shares for, but one that can be calculated from what you have sold the shares for.) For example, suppose you put £11,100 into each of 9 different shareholdings, leaving £100 change, and those shareholdings have each doubled in price to £22,200 - except that one of them has done slightly better to now be worth £22,300 - so your account is now worth £22,300 + 8*£22,200 + £100 = £200,000. If you sell any one of the £22,200 holdings, that sale will realise a gain of £22,200 - £11,100 = £11,100, using up your entire CGT allowance. If you sell the holding worth £22,300, you will realise a slightly larger gain of £11,200 and so have to pay CGT on it. The most you'll be able to withdraw from the account by selling and withdrawing cash, without incurring CGT, is £22,300, by selling one of the £22,200 holdings and withdrawing the sales proceeds plus the £100 cash left in the account. (Note that for the sake of simplicity, I'm ignoring trading costs in these examples - in reality, they would have to be taken into account as well and would slightly modify the results.) On the other hand, suppose that you still put £11,100 into each of 9 different shareholdings, leaving £100 change - but seven of them are still only worth £11,100, one is worth £22,200, and the last one is worth £100,000, so your account is worth 7*£11,100 + £22,200 + £100,000 + £100 = £200,000. This time, you can sell all seven of the £11,100 holdings (realising a gain of £0 each time) and the £22,200 holding (realising a gain of £11,100) while staying within the CGT allowance, and so you can potentially withdraw 7*£11,100 + £22,200 + £100 = £100,000 without incurring CGT. The common feature of those two scenarios is that you're left with a holding or holdings with unrealised gains of £88,900 on them: in the first case, it's eight holdings bought for £11,100 each and now worth £22,200 each except that one is worth £22,300; in the second case, it's a single holding bought for £11,100 and now worth £100,000. To be able to withdraw £111,100 without incurring CGT from an account worth £200,000, you would have to left with a holding or holdings worth the remaining £88,900, and the unrealised gains on them would still have to total £88,900 - so they would have to have been bought for £0, or at least count as having been bought for £0 for CGT purposes. That can happen - but it does require some rather special circumstances to make it happen, so is pretty unlikely! Gengulphus
gengulphus
14/6/2016
13:43
mrx9000, the gains are incurred when you sell the shares and any CGT due on gains in tax year >£11.1k has to be paid by Jan 31 following end of tax year in which gains were incurred. The matter of whether the funds remain in your trading account or are withdrawn has no impact on the amount of tax due and the date when it has to be paid.
m_k_hubbert
14/6/2016
13:36
A capital gains tax question for shares outside isa/sipp. If for example I have £100,000 in a trading account (non isa/sipp) and that £100,000 increases to £200,000. I am right in saying that I can take out my initial investment plus the CGT allowance within the tax year e.g. £111,100 (£100,000 initial + £11, 100 CGT allowance) without incurring CGT.
mrx9000
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