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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Capital Gearing Trust Plc | CGT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -5.00 | -0.10% | 4,800.00 | 16:09:59 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4,790.00 | 4,790.00 | 4,800.00 | 4,800.00 | 4,805.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 24/05/2024 | Final | GBP | 0.78 | 06/06/2024 | 07/06/2024 | 05/07/2024 |
| 26/01/2024 | Special | GBP | 0.11 | 01/02/2024 | 02/02/2024 | 23/02/2024 |
| 24/05/2023 | Final | GBP | 0.6 | 01/06/2023 | 02/06/2023 | 10/07/2023 |
| 30/05/2022 | Final | GBP | 0.46 | 09/06/2022 | 10/06/2022 | 15/07/2022 |
| 21/05/2021 | Final | GBP | 0.45 | 10/06/2021 | 11/06/2021 | 16/07/2021 |
| 27/05/2020 | Final | GBP | 0.25 | 04/06/2020 | 05/06/2020 | 17/07/2020 |
| Top Posts |
|---|
Posted at 29/12/2024 19:15 by django6 The new CGT tax rate came into force in October. How will this be calculated on the CGT return where have some gains at 20% and others at 23%? |
Posted at 31/8/2024 21:26 by ramprasad The individual CGT allowance for FY 2023-24 is only £6K. This goes down to £3K from this financial year. |
Posted at 05/8/2024 10:17 by spectoacc Quite different a few hours later, in fairness:CGT - down 0.7% PNL - down 0.8% RICA - up 2.2% |
Posted at 05/8/2024 07:55 by spectoacc CGT - down 2.3%PNL - down 1.3% RICA - down 1.3% Nikkei fell 12%, FTSE currently down 175, if this isn't the market for these ITs to shine, what is? I've a very large allocation to CGT, but there'll come a point soon where correct calls/wrong allocations mean it's better to go it alone. |
Posted at 30/4/2024 05:58 by spectoacc A bit to digest in there. Makes me wonder about owning a couple of Linkers rather than CGT at some point. |
Posted at 18/1/2024 17:25 by red nutter Doing my self assessment.1st time with profit on shares for the year. Was a £10k investment. Is well within the £12k cgt limit. Do I still need to show on tax return as no cgt is due? |
Posted at 14/11/2023 19:44 by spectoacc Citywire, fwiw:I'm rarely in the wealth preservers, and delighted not to be the past couple of years, but had the great pleasure of meeting Jonathan Ruffer this week, albeit not to talk investing unfortunately. RICA's the only one I've currently a small holding in. If I can get over disappointment at the performance of RICA/CGT/PNL, I'm likely to see CGT's discount widening out as an opportunity. Yes, they may never reign it back in, but should they? I don't see the point of buying back your shares at par - why not buy them back at a discount and improve NAV? Imagine if they come back in great size when the discount is say 10%. Maybe that's the discount tail wagging the investment case dog. But I like their vast allocation to US TIPs - surely the wealth preservers can't underperform forever. And it really is underperformance - some of the benchmarks (like RPI+) are being missed by country miles. Dangerous to make predictions, especially about the future (H/t Yogi Berra), but a rally into Xmas to sell into, then a tricky decision on now to position for next year, that surely has either direct holdings of Linkers/TIPs/Gilts/T |
Posted at 31/10/2023 17:14 by topvest It will certainly be interesting to see what happens here when they can't control the discount. They only bought 6k today. Peter Spiller is a great chap, but he must be incredibly frustrated with all of this. The RNS implies someone might have made some administrative errors, either at CGT or at the legal end. Not a great positive for NI being, maybe the only, Northern Ireland based listed company. I had a look at the Annual Report for last year and there was no mention of this as a risk or anything. It was not mentioned in the buy-back risk section. I guess the speed of the buy-backs and doom has caught them out...big time! When the markets lose confidence in the discount control mechanism, it will be difficult to regain confidence. The buy-back early in 2024 may have to be huge, which sadly could endanger this fantastic trust. The clock is ticking for performance to improve! |
Posted at 29/7/2021 22:37 by gengulphus squidd,... in recent years, as I aged (now 90), I greatly simplified my affairs to only pension and ISA investments only, so had to do no tax return for about 6 years. But one of my ISA investments has turned sour, and prompted me to look again to this site, where I'm delighted to find you still at it, and hopeful that you can advise. I held MESH shares in an ISA, but a couple of years ago, pending reorganisation and transformation, they delisted from AIM. Then a couple of months ago my brokers, EQi (formerly Selftrade) wrote telling me that MESH were no longer eligible for an ISA listing and they transferred my holding to a Dealing Account at zero value and zero cost. Thus exposing me to CGT etc at any valuation above zero. To further complicate matters, EQi are themselves reorganising, and they transferred my account to Interactive Investor. Meanwhile MESH have announced that reorganisation is nearing completion, and they hope to transform the shares into another company AAQA, by way of a special one for one dividend, which will then be listed on an exchange. I assume that this is the deal described in . It's a messy situation that I don't completely understand, and neither do the authors of that document, judging by its statement that "When the title of an investment in an ISA is transferred from an ISA manager to an investor, the investor is deemed to have sold the investment for a market value sum and immediately reacquired it for the same amount. Any notional gain on the deemed sale is exempt from charge. Any future capital gains or losses are calculated by reference to the value of the shares when they left the ISA. This is the combined effect of regulation 22 and 34 of the Individual Savings Account Regulations 1998. It is not, however, clear how this general tax treatment applies when shares are transferred out of an ISA after a delisting." I'm a bit surprised that EQi decided that the transfer-out-of-ISA happened at zero value, given that it appears that the shares still have some value - I rather suspect that they took the view that shares which cannot be sold in a stockmarket have zero market value, when "market value" is supposed to be what one can reasonably expect to sell an asset for to a willing buyer. However, that might not result in a "market value" which is all that much more than zero - i.e. it may not make all that much difference to CGT calculations, and so EQi's zero valuation at the time of the transfer out of the ISA may not be worth fighting... And there's another point: if you sell no more than a CGT allowance's worth of shares in a tax year, then unless you realise some other gain in the tax year (which your post suggests is most unlikely!), then your total realised gains in that tax year cannot be more than the CGT allowance - so you won't have any CGT to pay, and even if HMRC require you to fill in a tax return, you won't have to fill in its capital gains section or submit any capital gains computations. So the way I would be inclined to deal with the situation is to sell your MESH shares as soon as you can, except don't sell more than £12,300 worth in this tax year or the relevant year's CGT allowance worth in any future tax year. I.e. basically absorb this messy CGT situation harmlessly in your CGT allowances as soon as it's possible to do so... Having said that, I'm not clear whether any opportunity to sell your MESH shares will arise - the MESH announcement might mean that MESH ends up winding itself up with a distribution of about 2p per share without ever being able to be sold on a market. If so, I believe that would basically be treated like a forced sale for about 2p per share for CGT - so it shouldn't be a CGT problem unless you have more than about 615,000 MESH shares. If the AAQA shares (which I assume the "AAA shares" in the MESH announcement) are distributed as a special dividend, I believe the tax treatment is that they count as dividend income equal to their value when distributed, and their base cost for CGT purposes is that same value. So I think the CGT position on them will be clear, and you should be able to avoid any CGT needing to be paid on them by selling them before their price rises enough to create a gain of more than £12,300. But Income Tax will probably have to be paid on the special dividend if it plus any other non-ISAed dividends you receive are more than your dividend allowance of £2,000. But I'm afraid you can't take any of what I say above as a definite answer - the documents I'm basing it on simply contain too many uncertainties for definite answers to exist at this stage (e.g. the "It is currently envisaged that, subject to further tax, legal and other considerations, ..." at the start of the sentence about the special dividend in the MESH announcement pretty clearly indicates that what is envisaged might change if those considerations don't work out well). Hopefully things will become more definite in the future. Gengulphus |
Posted at 23/9/2020 18:00 by gengulphus Does anyone else out there think CGT might be an easy target for the chancellor in his quest to fill the financial black hole caused by Covid?I don't. A target, quite possibly - but not an easy target... It's not easy because to a large extent, CGT is a voluntary tax - make changes designed to raise more CGT from investors, and investors are likely to respond by changing their strategies to be more likely to hold on to investments carrying a large unrealised capital gain rather than selling them and realising the gain... Doing that won't always be possible - sometimes people need the cash or the sale is compulsory for one reason or another - but I suspect there will be plenty who shift to a long-term buy & hold strategy if CGT becomes a serious burden... Also, the investors most likely to want not to do that are those who use shorter-term 'trading' strategies. But many of them will have bought their shares last year and so will be sitting on plenty of unrealised losses, not gains... He might remove the £12300 allowance, he might increase rates, he might do both. Removing the CGT allowance strikes me as very unlikely, at least as things stand. Why? Because then everybody who makes even a small capital gain becomes liable to account for CGT, either in a tax return or using some sort of adjustment to their tax code - but that adjustment is likely to change every year, in a hard-to-predict way, so would require some sort of annual return from the taxpayer anyway. Either way, there would be a big increase in the number of CGT returns HMRC would need to process, quite often for very small amounts of tax collected - so removing the CGT allowance entirely would probably not be cost-effective because of high collection costs relative to the amount of tax collected. And in addition, it would also have high political costs for the government - a CGT return is a distinctly user-unfriendly bit of bureaucracy and making large numbers of voters do them who hadn't had to before is likely to alienate a considerable number of voters! That said, I do think reducing the CGT allowance might be an option for the Chancellor. E.g. halving it rather than removing it entirely would affect far fewer taxpayers and would tend to be focussed on those with the largest capital gains among those who currently don't pay CGT, as well as producing a substantial increase in CGT collected from those who do currently pay CGT. That's more likely to be cost-effective from the Chancellor's point of view, both with regard to collection costs and political costs. And increasing CGT rates is also an option. But both reducing the allowance and increasing rates are going to be limited in terms of how much they're likely to raise, due to the 'largely a voluntary tax' nature of CGT mentioned above. Various parts of that assume that the structure of CGT and collecting it remain largely as they are at present, and there are possibilities available for more fundamental revisions of CGT that would change the argument. For instance, brokers cannot currently give definitive statements about what capital gains and losses have been realised by sales in a broker account they provide, because if the accountholder has other holdings of a share (either certificated or held with another broker), CGT rules require the capital gains and losses to be calculated from the merged transaction record for all the holdings, not separately for each holding and the results added together. If CGT were revised to work on a 'separately on each holding and add together' basis, it would become possible for brokers to produce definitive CGT statements, and therefore for the government to require them to do so. And if that were done, CGT returns by individual taxpayers could become just a matter of taking the figures from each broker they use and adding them up - much as they handle dividends at present. That would be likely to reduce the costs significantly, both collection costs and political costs. Another example of a fundamental revision that might be attractive to the Chancellor is finding some way to tax all gains, whether realised or not (though the attractiveness of that might not be all that high at present, given recent losses...). But both of these fundamental revisions have a whole mass of practical detail to be designed - for example, how are transfers from one broker to another handled? how are certificated holdings handled? what happens if someone has big unrealised gains on shares that for some reason they cannot sell? and many others... So while fundamental reform of the CGT system might be a way for the Chancellor to effectively target CGT as a source of significant extra tax revenues, I'm pretty sure it's not an easy way for him to do so. Gengulphus |
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