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? |
Post a question and someone may come in to help. |
Is this thread still alive? |
Still on a reasonable discount though for this trust |
Good call @SpectoAccSeems to have rediscovered its poise here |
Watch for more detail on house views on linkers and other bets:
[...] sorry, link won't show. Use the CGAM link in header and go to Insights page. |
A very slightly humbled Mr Spiller is very keen on linkers: |
CGAM have a webinar at 10am tomorrow as they are launching a new index linked bond fund. |
That's a big stake indeed. I am starting to build a position in my SIPP. I keep my ISA for dividends, but this is ideal for a SIPP to build at a pretty safe 5-10% per annum with the 40% tax relief on-top. Markets seem to have caught everyone unawares in the last week. Risk on and fear of missing out is back. I'd be surprised if there isn't a recession in 2024, but the goldilocks soft landing is still a possibility! Either way this is a safe bet once the DCM is back. I'm only building slowly as the discount could widen further over the next month. |
Slept on it, & picked up a maiden holding of 5,000 well inside the spread. Possibly the triumph of hope over experience, but they could sort the discount control issue early next year - ie only months away. |
 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/Treasuries, or CGT/RICA/PNL. |
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! |
You gotta larf!
The N Irish court service doesn't believe in speed, as they should have known.
A number of managers must be sorely tempted to short CGT purely out of spite.
A big pile of steaming humble pie must be on the menu for Peter Perfect... |
I will be buying the open ended version of the fund from now on (if I buy any of their funds at all). As for discount control I should have remembered the old rule 'If something sounds too good to be true...'. If the discount goes to double figures I may be tempted back. |
For a trust focused on good governance it's a really big own goal. I think it will be difficult to recover from this, if they can't get performance positive by the end of the year. It will weaken their position lobbying other trusts. They will have to increase buy-backs massively if they end up with a big discount and another negative result. Not good. It's put me off buying now until the share price weakness starts to reverse. |
You couldn't make it up the incompetence! |
Blimey - didn't see this coming! Lucky escape as I was thinking of increasing my position size. They are going to have a problem with the discount for a while then. This could be a massive error as once the discount opens up it will be difficult to reign it back in without buying most of the shares. Interesting that c40 years of capital gains and revenue reserves have been burnt through. As often is the case, the late investors to a successful trust have not done as well as the early birds!
It looks like they have been caught out by the scale of the buy-backs needed over the last 6 months. A bit of an unforced error.
It will definitely be very interesting to see what the discount expands to in the run up to Christmas. |
Looks like david77 is indisposed. |
Looks like david77's CGT tool is unavailable. |
Incorrect.
"Jon Skint Smith 4 Sep '01 - 16:14
0 0 0
Does anyone know of or use any software that is capable of calculating CGT liability for share transaction including all the latest rules etc?"
Thread started in 2001 for CGT.
The capital gearing trust is here:
With a grand total of 87 posts from 2004. |
I'll think about it, Nickel |
Actually zangdook these pages are about Capital Gearing Trust and all forums should really be about Capital Gearing Trust as well. I don't mind the forums being infested with discussions about Capital Gains Tax but think you should 'cut some slack' for people using them for their intended purpose. |
This is a Capital Gains Tax board. If you're looking for discussion of Capital Gearing Trust, it's over here: |
In case you didn't find it, portfolio listing is on their website. Updated every 6 months I think. Used to be a good place to find discounted investment trusts (that probably weren't about to go bust). |
It's been decades since interest rates were this high so who knows how this will behave. If a large holder decides to sell then the discount control mechanism wont be much use. I don't see any fundamental reason why this vehicle cant trade on a 10%-20% discount like most other trusts. In addition don't forget other trusts usually pay a decent sized divided. This one does not. |
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