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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
  30.00 0.67% 4,520.00 4,500.00 4,510.00 4,530.00 4,500.00 4,530.00 22,479 15:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 7.8 6.4 59.1 76.5 550

Capital Gearing Share Discussion Threads

Showing 7776 to 7798 of 8325 messages
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DateSubjectAuthorDiscuss
06/4/2014
11:48
Shares bought back (post 7th April) after being sold in the last 30 days will have to appear in 2013-2014 CGT calcs. Right?
fireplace22
06/4/2014
10:59
Thanks Miata.
karateboy
06/4/2014
10:07
On past form about three days after the year-end. Edit - HMRC Self assessment for 2013-14 is now live.
miata
06/4/2014
07:37
When the SA forms for 2014/15 will be available. I can not see them in HMRC web site...I am keen to start filling my tax return...as I have paid more tax than I should have, due to contribution to SIPP..
karateboy
04/4/2014
09:17
Tax take ...................2012-13.........2018-19 Stamp duty..........£6.9bn.........£18.1bn Capital gains tax...£3.9bn..........£9.0bn Inheritance tax.....£3.1bn..........£5.8bn Source: Office for Budget Responsibility, March 2014
miata
02/4/2014
16:27
To a small extent (bed & ISA), but most will take a couple of days to get new cash as cleared funds into their ISAs. There have been no significant moves on the first day of the new UK tax year recently. Effects arising from US (& French) tax years have been more noticeable.
miata
02/4/2014
15:46
Thanks Miata I guess 4pm on friday is likely to be quite busy. Does this also mean that 8am Monday is also likely to be busy with people loading their new ISA's or is the effect less pronounced ?
my5harebox
02/4/2014
13:42
Trade date. Last day Friday, though as that is a US Non Farm Payrolls day it will probably be volatile.
miata
02/4/2014
13:22
hello everyone Does anyone know what is the last day shares can be sold and counted for 2013/14 tax year? For CGT is it the "trade date" or the broker "settlement date"? If its the latter then is today is the last day to sell this FY. Thanks. MSB
my5harebox
28/3/2014
14:27
yes ok thanks.. as I thought! Swiss impossible to reclaim
sarahbudd
28/3/2014
13:51
Sarah, that's not a CGT question it's a Swiss Witholding Tax question. The answer lies in the UK-Swiss double tax treaty (which I am not up-to-date with). "The Withholding Tax must be withheld by the Company from the gross distribution and paid directly to the Swiss Federal Tax Administration. A full or partial refund of Withholding Tax may be available in certain circumstances, depending on your place of residence, ownership, related refund applications and evidence. Further information is available on the Company's website at www.ferrexpo.com or an information leaflet may be requested from the Company Secretary at the Company's registered office address." Had it been a US share the UK-US double tax treaty would have enabled the payment to be paid gross into an approved pension fund account (SIPP). See also form 86 from this link (though probably not for SIPPs) HTTP://www.estv.admin.ch/verrechnungssteuer/dienstleistungen/00253/00626/index.html?lang=en
miata
28/3/2014
13:41
question.. just received FXPO divi of £202 tax withheld £109! AJBell say that tax cannot be reclaimed as held in a SIPP pool.. Is there any other way I can reclaim?
sarahbudd
25/3/2014
13:19
You'll need to complete the tax return Capital Gains Tax page if either of the following apply: your chargeable gains - before deducting any losses - are more than the Annual Exempt Amount - £11,000 in 2014-15 the total amount you received from selling or disposing of assets is more than £44,000 in 2014-15 For other years see TAX thread http://uk.advfn.com/cmn/fbb/thread.php3?id=14977168
miata
25/3/2014
11:45
Hi, Hope someone can help. I own 2 houses - 1 is marital and the other is letted out. On the letted out one I previously lived there and am now planning on selling. I have worked out using all the allowances that I will have no tax to pay on the Capital Gains. Do I still need to declare all my numbers on tax returns for Mr & Mrs as jointly held. I fill in a self assessment already for both of us. Thanks red nutter
red nutter
20/3/2014
18:08
hTTp://www.taxcafe.co.uk/resources/capital_gains_tax_allowances.html 2011/12 £10,600 2012/13 £10,600 2013/14 £10,900 2014/15 £11,000 2015/16 £11,100
smurfy2001
20/3/2014
17:25
Is the CGT allowance for 2014-2015 still £11,000 ?
hyper al
20/3/2014
17:09
david77, as just posted. I have used the info from Gengulphus and that after a bit of thought led me to resolution of my spreadsheet problem. Thanks very much for your offer. It is most kind, but I am pleased to say I need nothing further.
twix386
20/3/2014
17:05
twix "so how do I begin?" I presume that you are only trying to do the current year's deals. If you send me a list of deals for one company including your pool qty and price at the start of the current tax year to stonebanks@ntlworld.com I'll have a go. Both of the calculators have been around for several years and I have provided translation routines so that you can check the results on both. I don't have Excel.
david77
20/3/2014
15:37
got it all working and average price now down in line with expectations, so many thanks to you all, especially Gengulphus who nailed it. Many thanks
twix386
20/3/2014
14:19
Gengulphus, Yes, good spot, 2nd line meant to be "/". Just a typo and there is no rounding in my spreadsheet.
twix386
20/3/2014
14:07
david77, so how do I begin. I have hundreds of trades over 10 years and start each new tax year with a c/fwd shareholding total and c/fwd Cost figure. It says The first entry on a security's list of deals is the closing pool figure from the previous tax year with date of last deal. When I do that or what I think it requires, I get an error which is probably true. lol It does feel to me that I am going round the houses when what I need is a knowledgeable guy to look at what i've done and advise. Still, I can try to populate your website, but one mistake and I will be mislead or non the wiser. Hours of fun(!) already spent, but thanks for the help none the less.
twix386
20/3/2014
13:52
Example: sell 74,544 shares shares sold as %age of total = 74,544*4,935,247=1.51% 1.51% of Cost figure = GBP 259,565.68*1.51%=GBP 3,919.44 shares valued at 1p, so GBP 745.44 received. GBP 745.44 minus GBP 3,919.44 = loss of GBP (3,174) Hopefully you agree that. As a minor issue, no, sorry, I don't. It's close, but slightly out due to you having rounded the result of the division on the second line (I'm assuming the "*" on that line is just a typo and was intended to be "/"). Do such calculations with only a rounding of the resulting cost figure: GBP 259,565.68 * 74,544/4,935,247 = GBP 3,920.59 And so the resulting loss is bigger than you've calculated by about a pound. The point is that there is a natural place to do that rounding of the resulting cost figure - i.e. to the nearest penny - but there isn't for percentages. On to the more important point: What I don't follow is in my 104 holdings list of trades the average price remains static throughout at 5.2594p never changing, so it will never show a profit until my selling price goes higher than this (all excluding charges etc). ... That is exactly how average cost prices on sales are supposed to work in CGT calculations. If e.g. you buy 1000 shares at 100p, then later a further 1000 shares at 200p, you now have 2000 shares bought for a total of £3,000. Your average cost price is £3,000/2000 = 150p. That basically says you could alternatively have obtained that holding and CGT cost basis by buying 2000 shares at 150p each. And unless your pattern of trading is such that the same-day and/or 30-day rules have applied at some point, the S104 rules basically say that you do your CGT computations just as though that actually is how you obtained the holding. So if you then sell 1000 of those shares, the 1000 shares you sell are treated as though they'd been bought for 150p each (causing you to subtract 1000*150p = £1,500 from whatever you sold the shares for to arrive at the gain or loss you realised) and the 1000 shares you keep are also treated as though they'd been bought for 150p each, so your S104 pool becomes one of 1000 shares with a cost basis of 1000 * 150p = £1,500 - and quite naturally the average cost of the shares in that pool is still 150p. If later (and after 31 days or more have elapsed, so that neither the same-day rules nor the 30-day rule apply) you were to buy another 1000 shares at 50p each, that pool would become 2000 shares bought for a total of £1,500 + £500 = £2,000, and the average cost would drop to 100p per share. Or if they were instead bought for 250p each, the pool would become 2000 shares bought for £1,500 + £2,500 = £4,000, and the average cost would rise to 200p per share. More generally, as long as the same-day and 30-day rules don't apply (i.e. as long as you never buy on the same day as a sale or within the next 30 days after a sale), what you can expect is that: * On an initial purchase (i.e. with no pre-existing holding), the average price of the S104 pool is set to the average price of the purchase. * In a follow-up purchase (i.e. with a pre-existing holding), the average price of the S104 pool becomes something between its previous average price and the average price of the purchase, and closer to the average price of whichever of the previous S104 pool and the purchase contained more shares. * In a sale, the average price of the S104 pool doesn't change. By the way, I've excluded trading costs from the above examples to keep the numbers simple, and you say "(all excluding charges etc)" - but in reality CGT computations should be done with all the trading costs included as costs (which acts in your favour - costs reduce gains and increase losses in the computations, so that either way, there are fewer net gains to be taxed after offsetting losses against gains (or more net losses to be carried forward into future tax years to potentially reduce CGT in those years). One other point I would make is that CGT computations are generally simpler if you work with pools and trades on an "N shares at total cost/proceeds of £X" basis, not an "N shares at average cost/proceeds of £X per share" basis. The latter basically has the same rounding issue as using percentages did - how accurately do you need to calculate the average figure per share? - whereas the former has the obvious answer of rounding the total to the nearest penny. The only way I would personally let average-per-share figures into my CGT computations would be as a check on accuracy - i.e. to make certain that they really do behave as described in the three bullet points above. And even that has to be treated with care, because the rounding of the total cost to the nearest penny and rounding in the actual computer arithmetic will often cause the average-cost-per-share figure to change very slightly on a sale - not by enough to be noticeable in the figures displayed in your spreadsheet unless you display silly numbers of decimal places, but nevertheless enough to make the figures compare as not equal to each other... ... My actual average price is now a little over 1p, so how can it be correct that the average price in my spreadsheet as excerpt below remains at 5.2594p through each trade detail to the end of my trade list? And later: The average never changes after numerous buys and sells and price changes, so I wanted to try to find out if I have made an error in the calculations. Over 200 buys and sells and average is the same. As I indicate above, the average price per share of the S104 pool should change on buys - increasing or decreasing depending on whether the new shares are being bought at a higher or lower average price than the previous average price per share of the S104 pool, and only staying the same if they happen to be being bought at the same price as that revious average. The most likely explanation I can think of for what you're seeing is that you're increasing the total costs of the S104 pool by the number of shares bought times the existing average rather than times what was actually paid for them. It would be easy to do that if you did the buy and sell lines too much by analogy with each other - they do actually need to be fairly different from each other... For a simple spreadsheet that will only work properly if there are no cases that need to use the same-day or 30-day rules, you need formulae along the lines of: A B C D E F 1 Trade Trade Trade costs S104 pool S104 pool S104 pool average type shares /proceeds shares costs per share 2 Init (blank) (blank) 0 £0.00 =IF(D2=0,"",E2/D2) 3 Buy (data) (data) =D2+B3 =E2+C3 =IF(D3=0,"",E3/D3) 4 Buy (data) (data) =D3+B4 =E3+C4 =IF(D4=0,"",E4/D4) 5 Sell (data) (data) =D4-B5 =ROUND(E4*D5/D4,2) =IF(D5=0,"",E5/D5) ... Column G (which I haven't shown there because it would cause lines to wrap) would then be the gain/loss figure, which would be blank for the Init and Buy lines, and set by the formula =C5-(E4-E5) on the Sell line. (E5 having been set to the reduced total cost for the reduced S104 pool, rounded to the nearest penny, so that E4-E5 is the total cost of the shares removed from the S104 pool, and C5-(E4-E5) is what they were sold for minus their total cost, i.e. the gain or loss.) That's only a very simple spreadsheet - one which is not capable of handling quite a variety of things, such as buys on the same day as a sale or in the next 30 days, corporate actions, etc. But hopefully it gives enough of the basic formulae for dealing with S104 pools for you to track down your problem. (The simplest way I can think of for things to be wrong and cause a never-changing average price is if the Buy lines had the same formula in column E as the Sell lines, with a special case to handle the previous number of shares being zero: that would cause the average to be set from the first buy and then never to change again.) I should say of course that use of IF() functions will allow you to use the same cut-and-pasted formulae on Buy and Sell lines. E.g. in practice I would probably write something like =IF(A2="Init",0,IF(A2="Buy",OFFSET(D2,-1,0)+B2,IF(A2="Sell",OFFSET(D2,-1,0)-B2,"???"))) in cell D2 and then be able to just copy it into the rest of column D from cell D3 downwards, and similarly for other lines. But it would have made the above far too wide and incomprehensible! Gengulphus
gengulphus
20/3/2014
10:40
The stonebanks calculator shows all the steps of the calculations so you can see where yours differs. Why don't you do just a few trades?
david77
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