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Share Name Share Symbol Market Type Share ISIN Share Description
Capital Gearing Trust Plc 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
  0.00 0.0% 4,600.00 4,600.00 4,610.00 4,610.00 4,610.00 4,610.00 34,067 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 7.8 6.4 59.1 77.8 560

Capital Gearing Share Discussion Threads

Showing 7501 to 7522 of 8325 messages
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DateSubjectAuthorDiscuss
02/5/2013
10:14
Gengulphus thank you for that. I wasn't aware of that 'apportioning' rule. I was thinking they would disregard the later purchase and say the base cost of the new share was £10. Glad l asked :-)
mikepompeyfan
02/5/2013
09:48
mikepompeyfan, I buy 1 shares in a company in Jan 2008 for £10. I buy 1 more share in March 2012 for 25p. I sell both together on May 1st 2013 for 50p. I buy 1 share back on May 10th 2013 for 45p (so within the 30 day rule period). Is my starting position for cgt purposes on the one share l've bought back £10, 25p or 45p ? None of the above! The actual answer is 512.5p. (This disagrees with david77's 522.5p answer because of an input error in his data - he has the March 2012 buy at 45p rather than the 25p you stated.) The computation: you don't have any sets of trades on the same day, so the same-day rules don't apply. So we move on to matching disposals to acquisitions under the 30-day and Section 104 pool rules. This is done in date order of disposals (not relevant in this example, as there is only one disposal) and with the 30-day rule taking priority over the Section 104 pool rule. So we want to match the disposal of 2 shares for a total of £1.00 or £0.50 (depending whether you meant "for 50p" to be "for 50p per share" or "for 50p total") to acquisitions. There's an acquisition within 30 days afterwards, but it's for a lower number of shares. So we have to split (or 'apportion' in taxman-speak) the disposal into a disposal matching the acquisition, of 1 share, and a disposal of the remainder, also of 1 share. So we now have two 1-share disposals on May 1st, each of them for either £0.50 or £0.25, and can match one of them to the 1-share acquisition on May 10th at £0.45. The result is either a gain of £0.05 or a loss of £0.20, and those two transactions are removed from the list of transactions still to be dealt with. That leaves us with the January 2008 acquisition, the March 2012 acquisition and the remaining 1-share disposal on May 1st. There is no longer any acquisition within 30 days after the disposal (unless you decide to make a further purchase on or before May 31st), so the 30-day rule doesn't apply and we fall back on the Section 104 pool rule. That says that we 'pool' the previous acquisitions together into an acquisition of 2 shares for £10.25 and then match the disposal to that acquisition. This time, the acquisition is for more shares than the disposal, so we have to apportion the acquisition to match the disposal, getting two acquisitions, each of 1 share for £5.125. One of them is matched to the disposal for either £0.50 or £0.25, producing a loss of either £4.625 or £4.875, and the two transactions are removed from the list of transactions still to be dealt with. The remaining transaction is the other 'pooled and then apportioned' acquisition of 1 share for £5.125, and that's what we carry forward into the future. Gengulphus
gengulphus
02/5/2013
08:34
This was the input data if you want to play with it: abc 01/01/08, B, 1, 1000, 10 01/03/12, B, 1, 45, 0.45 01/05/13, S, 2, 25, 0.5 10/05/13, B, 1, 45, 0.45 For the following year abc 01/05/13, B, 1, 522.5, 5.23 which is the same as the final pool figures.
david77
02/5/2013
07:27
That's very interesting thanks David. l may be a bit dim here, but l can't see the answer to my question, which is what is my base starting cost for the one share l now hold ;-)
mikepompeyfan
02/5/2013
06:51
Can you clarify this for me please bearing in mind the 30 day rule for share sells. I am referring to the same company regarding these transactions. I buy 1 shares in a company in Jan 2008 for £10. I buy 1 more share in March 2012 for 25p. I sell both together on May 1st 2013 for 50p. I buy 1 share back on May 10th 2013 for 45p (so within the 30 day rule period). Is my starting position for cgt purposes on the one share l've bought back £10, 25p or 45p ? Many thanks.
mikepompeyfan
25/4/2013
09:44
Investment in funds Invest £100,000 and apply 6 per cent annual growth over 10 years: with a 1.5 per cent charge it will grow to £169,290 with a 0.25 per cent charge it will grow to £191,850. There are many collective funds with low charges, consider HSBC's low charge trackers against the rest. http://www.thisismoney.co.uk/money/investing/article-1583915/A-guide-cheapest-index-tracker-funds.html
miata
25/4/2013
07:32
6787, What are the tax implications on withdrawals from the Bond? You can withdraw up to 5% per year of the initial amount invested in each individual policy for a period of 20 years, or until the value of the original investment amount has been fully withdrawn if withdrawals are taken at a lower rate than 5% per year. Provided this amount is not exceeded, there will be no income tax payable at the time of each withdrawal as tax on these amounts is deferred until final cash-in. This 5% allowance is cumulative, which means, for example, you can withdraw 4% per year for 25 years; or if you do not use your 5% withdrawal in one year, you can withdraw up to 10% in the following year with no immediate tax liability, regardless of your tax position. If you make withdrawals which exceed the 5% entitlement there could be an immediate tax liability. This would happen if you already pay higher or additional rate tax, or if the withdrawal causes your taxable income to go over the upper level of the basic rate tax limit. In these circumstances you would have to pay tax on the amount above the 5% entitlement which exceeds the upper level of the basic rate tax limit. The tax payable would be limited to the difference between either: the higher and basic rates; or the additional and basic rates. Any adviser charges taken from your Bond will count towards your 5% annual withdrawal allowance. This means there may be an immediate tax liability if your withdrawals, combined with any adviser charges, are above 5% of the initial amount invested. Remember, if ongoing adviser charges are taken as a percentage of the Bond's value and that value increases, the actual amount of the ongoing adviser charge will also increase. What about tax if I cash-in one or more policies in my Bond? When a policy is fully cashed-in, there may be an income tax liability on the profit from the policy. This takes into account withdrawals made before the encashment of the policy both within and in excess of the 5% annual entitlement. The profit is subject to a special calculation to determine whether over the number of years the Bond has been in force, the 'average gain' would cause your taxable income to exceed the upper level of the basic rate tax limit. This will determine if there is any tax charge on the profit. Any tax payable would be limited to the difference between either the higher and basic rates, or the additional and basic rates. Your financial advisor can tell you more. Obviously your bond is suffering 'fund expense charges' as well as 'annual management fees', so I hope you are already fully utilising your annual CGT allowance on other investments. If not, from a tax perspective, you should consider whether direct investment might be more tax-efficient. WHICH on investment bonds: While the tax benefits of investment bonds can occasionally make them a suitable option for investors, the value of these benefits is often overstated. For most people, these are almost certainly not the right investment option. Charges and commissions tend to be much higher than other investment products and they often lack transparency. Typical commission on investment bonds is between 6% and 8% of the sum invested, which is why some advisers are so keen to sell these products over other simpler investments such as unit trusts, which typically pay no more than 3% upfront, and 0.5% a year thereafter. To cover the cost of this commission, most investment bonds also impose exit penalties, meaning they are much less flexible than regular investment funds. If you have a with-profits bond, you could also be hit with a market value reduction (MVR) when you sell. This will reduce the amount paid out to you if you cash your bond in early, if market conditions have been rough. With all this in mind, there's little wonder why investment bonds are so popular with providers, if not their customers.
miata
24/4/2013
23:30
stevi111, The "investment bonds" you're talking about are probably actually a type of life insurance policy. Check their paperwork to make certain; typically, the feature that reveals them to be a life insurance policy is that they pay out a slightly higher value (usually 101% of their current normal value) on death. There is also a tendency for the legal wording to actually use the word "policy". If checking the paperwork doesn't seem decisive, check with their provider. Assuming they are actually life insurance policies, they will be taxed under Income Tax rather than CGT. Partly because of that and partly because the taxation of life insurance policies is not an area I know much about, I won't attempt to answer your detailed questions. Instead, I'll just direct you to the relevant part of the tax return: it is the 'Additional information' pages - see http://search2.hmrc.gov.uk/kb5/hmrc/forms/view.page?record=58pIqNCTU00&formId=3180 . See in particular the part of the 'SA101 Notes ...' link about "Life insurance gains" and the 'HS320 ...' link. Gengulphus
gengulphus
24/4/2013
18:42
Hi everyone... Has anybody here any ideas how AXA Investment bonds are taxed please ? I recieve 2 x distributions per year which automatically re-invests in the bond. I believe I can withdraw 5% of the initial amount of my bond each year(upto 20 years) without being liable to pay any tax. Is this correct ? (Tax being deferred until encashment) Should I be declaring the two yearly distributions on my SA tax return each year or upon encashment just take away my initial investment (including any withdrawals I make) and whatever is left declare to HMRC ? Do I have to declare any withdrawals I make in a year (Last tax year I withdrew £5,000 which was under 5% of the initial bond investment. Do I need to declare this even though I would not be liable to tax on it ?) With shares its Capital Gains Tax With bank bonds its Income Tax Which is it with Investment Bonds ? I have not got a clue :-( Any help appreciated. Thanks.
stevi111
24/4/2013
12:17
Yep, you are right you do not need to put the unsold ones in. I wanted to know how to put the unsolds on a new year CGT form so I can rollover to the new year that was all.
nettybetts
24/4/2013
11:02
I have never listed shares that i have bought and not sold yet, i thought you only had to let them know when a loss or gain is made on them, and obviously you cant know that until there sold.
daytraders
24/4/2013
10:42
as far as I know you have to put it all in every year. But I just wanted to know how to put the unsold shares over on the CGT chart ready for next year.
nettybetts
24/4/2013
10:20
i did not think you had to inform tax office until you sale your shares ?
daytraders
24/4/2013
07:29
Thanks for that David I will try :)
nettybetts
24/4/2013
07:12
The calc on www.stonebanks.co.uk has a list of current holdings in the last textbox. I copy that to start a new file (mycg1314.txt) for the new tax year.
david77
24/4/2013
07:02
Many thanks Gengulphus.
zimbi
24/4/2013
06:59
If I have shares at the end of the year that I have not sold, how do I log them on the CGT calculator for the new year ?
nettybetts
23/4/2013
21:30
Just to spell the situation about gifts to your children out: transfers to children are at current market value. I.e. you will be treated as though you had sold them for the current market value, so that you will realise the same gain or loss as you would have if you had instead sold, give or take a bit of spread and trading costs. Similarly, the children will be treated as though they had bought them at the current market value. But there is a complication if a gift to your child causes you to realise a loss. As a loss realised on a transfer to one of your 'connected persons', the "clogged loss" rule comes into play: that loss can only be offset against a gain realised on a transfer to the same 'connected person', i.e. the same child in this case. Gengulphus
gengulphus
23/4/2013
16:40
:-) thanks
zimbi
23/4/2013
16:39
I repeat Transfers to spouse (only) are at [your] original cost. Yes.
miata
23/4/2013
16:36
Many thanks for a speedy reply! Re to spouse. If they double, is the CGT based on the price they went in to the wife's account or the original price I bought them for in my account? Re children and gift. How does one do it? Just ring up broker and ask to gift to children? Is that not the same thing as with the wife? When I transferred to the wife, they asked if it was a gift and I said yes.
zimbi
23/4/2013
16:31
Transfers to spouse (only) are at original cost. There's no special relief if you give shares to your children, but it may be useful for future capital gains.
miata
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