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
  -40.00 -0.9% 4,390.00 4,380.00 4,400.00 4,400.00 4,390.00 4,400.00 19,270 15:03:34
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 4.7 3.7 51.1 85.9 493

Capital Gearing Share Discussion Threads

Showing 7851 to 7874 of 8275 messages
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DateSubjectAuthorDiscuss
21/11/2014
13:55
peawacks an effective date - amazing how few people remember to put a definite date in for the record. next it depends entirely on the rules of the investment club and the broker platform it uses. If you can transfer your interest in the pooled investments represented by the investment club without transferring underlying investments held then it will be a notification procedure to the club - otherwise you will need to inform the broker and get them to transfer shares using their share transfer form (and pay fees and dues)
chairman20
20/11/2014
17:55
I want to transfer my share of an investment club ( of which we are both members) to my wife. The broker requires a covering letter. What do I write in the letter ? Thanks in advance.
peawacks
14/10/2014
12:03
Gengulphus - many thanks for your super-speedy and comprehensive info. I suspected this would be the case but always like to double check. Thanks for the links - yes, very technical from a layman's point of view but I think that in this case CGT would apply. At least it'd make record-keeping more straightforward...no more shoeboxes full of receipts! Great thread. Very useful and informative. Really appreciate you taking the time to reply. All the best, BWD.
bigwavedave
14/10/2014
11:24
If you trade shares for a living, making a proper business of it in the same way as e.g. a market maker does, then the whole operation becomes subject to Income Tax (and not CGT - anything that is taxed by Income Tax is not also taxed by CGT) and all the usual business expenses can be deducted. It is however pretty difficult to persuade the taxman that that's what you're doing. Just about any normal individual trading in shares is 'investing' or 'speculating' rather than 'trading' in the technical sense, and that means that what they're doing is taxed by CGT and only the limited set of costs that can be claimed for CGT are allowed - from memory (so I might be missing one or two): * acquisition costs - what you actually pay for the shares; * incidental costs of acquisition and disposal - fees and other costs directly associated with the acquisition or disposal, such as broker commission, stamp duty, PTM levy; fees associated with the account rather than a specific acquisition or disposal (e.g. inactivity fees) don't count; * enhancement costs - payments to improve the shareholding (main case I know of for that is if you subscribe to a rights issue, the subscription is basically an enhancement cost that enhances the nil-paid rights split out of the shares into fully-paid shares). * costs to establish your title to the shares - have never encountered that one, but I can imagine it could come up in some obscure circumstances. If you'd like some HMRC material about what is needed to make trading in shares count as 'trading' in the technical sense and so be subject to Income Tax rather than CGT, see http://www.hmrc.gov.uk/manuals/bimmanual/BIM56800.htm and the pages it links to. Gengulphus
gengulphus
14/10/2014
10:59
OK, silly question time. Assuming a person's sole income is from trading shares, what costs, if any, can he include to offset CGT (other than brokers fees)? Can general office expenses, travel/hotel for AGMs, subs to ADVFN etc be included? HMRC only refers to brokers charges from what I can see. Thank you.
bigwavedave
10/10/2014
14:58
Thanks Gengulphus - much as I thought!
red nutter
10/10/2014
14:37
I declared cgt share losses with HMRC in 2004/05 and have still to claim these. I anticipate making a profit in excess of the CGT allowance this year. Am I able to offset my prior losses from 2004/05? or is there a time limit to offset these? "Claiming" capital losses just means declaring them to HMRC, either in a tax return or in a stand-alone letter. So as long as you mean that and not for instance happening to mention the losses during a phone call, you have claimed them. Once losses have been claimed, there's no time limit on using them: they hang around until used or until your death cancels everything to do with your CGT. Note though that it's not your choice whether you use them: they get used when the CGT rules say they get used, even if you would prefer them not to be used. That means: * In the tax year in which the losses were realised (i.e. 2004/2005 in your case), they get used against gains realised in the same tax year if at all possible, and only start to be carried forward if there are no more same-year gains that you can use them against. (So normally, you only start to carry losses forward if you realise more losses than gains in a tax year.) * Losses that have been brought forward from earlier tax years get used against gains realised in a tax year if, after using any losses realised in that tax year (i.e. in accordance with the last bullet), the gains are above the CGT allowance for that tax year. If that happens, enough brought-forward losses are used to reduce the gains to the CGT allowance, or all the brought-forward losses are used if there aren't enough to reduce the gains to the CGT allowance. In the tax years before the 2008 CGT simplifications (i.e. the tax years 2005/2006, 2006/2007 and 2007/2008 in your case), that reduction of gains by brought-forward losses happened before applying taper relief. That could lead to losses having to be wasted offsetting gains when taper relief would have taken the gains below the CGT allowance anyway. Since the 2008 CGT simplifications, taper relief no longer exists and so that can no longer happen. So it's not completely automatic that losses realised in 2004/2005 and claimed within the time limit can be used now; they could potentially have been forced to be used in 2004/2005 or (less likely but possible) some of the tax years between then and now. But as long as they weren't, they're still around to be used - and indeed must be used if your net realised gains for the current tax year turn out to be above the CGT allowance, either to the extent of reducing those net realised gains to the CGT allowance or completely. Gengulphus
gengulphus
10/10/2014
13:39
Apologies if a silly question. I declared cgt share losses with HMRC in 2004/05 and have still to claim these. I anticipate making a profit in excess of the CGT allowance this year. Am I able to offset my prior losses from 2004/05? or is there a time limit to offset these? Thanks red
red nutter
07/10/2014
21:46
Numpties... Liberal Democrats plan CGT increases to pay for tax cuts Last updated: October 7, 2014 9:36 pm "...Mr Clegg wants to fund an across-the-board tax cut for 29m people by raising the capital gains tax rate for higher earners from 28 per cent to about 35 per cent. Currently £10,900 a year is exempt from CGT but that would be cut to £2,500 under the Lib Dem plan, raising a further £250m." http://www.ft.com/cms/s/0/72d83ad4-4e44-11e4-bfda-00144feab7de.html
someuwin
18/9/2014
16:39
Barclays advice on CGT hTTps://wealth.barclays.com/en_gb/smartinvestor/better-investor/dont-get-caught-by-capital-gains-tax.html
david77
12/9/2014
20:54
Thank you Gengulphus...I will drop my SIPP provider a line.
karateboy
12/9/2014
08:00
karateboy, About your question 2, I'm fairly (but not absolutely) certain SIPPs remain exempt from Income Tax and CGT for as long as they actually remain SIPPs. But for added certainty, check with your SIPP provider whether the account will remain exempt before actually taking any action to change its status. (Note they cannot give you tax advice - i.e. tell you what they think you ought to do about tax - but they can (and should) give you tax facts about the account they're providing to you. So make certain any question you ask them is a factual one about the account. And if they respond saying they cannot give you tax advice, try again making it clear that you are after facts, not advice - it has been known for inexperienced customer service staff not to know the difference!) About your other questions, sorry, I cannot help - I don't understand the intricacies of SIPPs beyond my own very simple use of one! And as this thread's subject is CGT rather than SIPPs, it might be a good idea to find a thread about SIPPs and ask your question there... As a starting point, putting "SIPP" into the EPIC box above finds a number of threads ( http://uk.advfn.com/cmn/fbb/threads.php3?symbol=LSE%3ASIPP ). I haven't checked them out, though - that's your job! Gengulphus
gengulphus
11/9/2014
20:25
I have a SIPP which I want to start withdrawing income as soon as I am able to do so from age of 55. I believe I can take 25% of the SIPP value as lump sum tax free. I want to use the Lump sum to help my children to get into property ladder. My questions are.. 1.can I open another SIPP account as I am not retiring from my day job yet. 2.is my first SIPP still subject to no capital gain tax as it hopefully grows? 3. Is my first SIPP as it grows, the growth from date of crystallisation will not be included in the life time allowances? Thank you
karateboy
11/9/2014
20:17
I have a SIPP which I want to start withdrawing income as soon as I am able to do so from age of 55. I believe I can take 25% of the SIPP value as lump sum tax free. I want to use the Lump sum to help my children to get into property ladder. My questions are.. 1.can I open another SIPP account as I am not retiring from my day job yet. 2.is my first SIPP still subject to no capital gain tax as it hopefully grows? 3. Is my first SIPP as it grows, the growth from date of crystallisation will not be included in the life time allowances? Thank you
karateboy
10/9/2014
16:36
I'd suggest you post the input data that is producing the error - diagnosing software problems without knowing both the program and the data it is acting on is hard! Gengulphus
gengulphus
10/9/2014
11:35
Buy and sell 277 shares transections in RMG in October 2013 shows error not accepted in input info for CGTcalculator. Any help welcomed.
jrrhya
21/8/2014
22:38
Thanks Gengulphus I am so thankful now that most of my dealings are now in ISA's, especially since AIM shares were allowed!
royaloak
21/8/2014
15:27
AVS, sorry had not looked at the thread for a time, I opted for the income option of 110p per share, which I of course had a tax credit of 10% deducted from the gross. ... Not really - you were given a notional tax credit equal to 1/9th of the gross (where the 'gross' means the money that left the company and was received by you - they're one and the same, no actual money gets diverted to the taxman inbetween). For tax purposes, you're treated as having received both the actual cash and the tax credit as income, basic-rate tax is assessed at 10% on that income, and the tax credit is treated as having paid that basic-rate tax... The words "treated as" in that are important: a notional sum of money can neither be actual income for you nor actually pay your taxes! But it can be treated as doing either or both. ... I did not look too closely at the b/c shares. So I suspect that you are saying when I sell I will have to reduce my purchase price accordingly? Yes, though "accordingly" does not necessarily mean by the exact amount of the dividends you received - the calculations involve an apportionment according to market values and so will probably produce a somewhat different answer. More important, I'm not just saying that you might have to reduce your purchase price for your Ordinary shares if and when you sell them in the future. I'm also saying that you might already have realised a loss on your C / Deferred shares, without actually realising you've done so. Whether you have done so depends on whether the company has redeemed the Deferred shares, and if so, when. Gengulphus
gengulphus
21/8/2014
14:20
Gengulphus AVS, sorry had not looked at the thread for a time, I opted for the income option of 110p per share, which I of course had a tax credit of 10% deducted from the gross. I did not look too closely at the b/c shares. So I suspect that you are saying when I sell I will have to reduce my purchase price accordingly? Many thanks.
royaloak
16/8/2014
14:39
Thanks. I'll try and find out, it's an interesting one!
smurfy2001
16/8/2014
11:23
If l make a rental loss of say £10K and next tax year make capital gains exceeding the allowance (let's say £2K profit), will l still have to pay tax on the gains?? I don't quite get how the loss carries over is categorized i.e., if it's only allowed to offset income (such as future rent) against the loss??? My suspicion is that the rental loss can only be used against rental profits and not against capital gains, and I don't remember ever seeing anything in my study of the CGT rules indicating that rental losses can be used the way you want to. However, I cannot give a definite answer - the reason being that I've never had anything to do with property renting (*) and so have no experience of the rules about property income and losses. That also means that it's quite possible that I've encountered a mention of rental losses in my reading about CGT, skimmed over it as irrelevant to what I was interested in and so not remembered it. Afraid that's the best I can do. (*) As the property owner, that is - I have rented a property to live in myself in the past, but that gives no insight into the taxation of the owner of the property. Gengulphus
gengulphus
16/8/2014
11:02
I don't know if anyone knows the answer to this question.... If l make a rental loss of say £10K and next tax year make capital gains exceeding the allowance (let's say £2K profit), will l still have to pay tax on the gains?? I don't quite get how the loss carries over is categorized i.e., if it's only allowed to offset income (such as future rent) against the loss??? Hope someone can help!
smurfy2001
14/8/2014
14:53
Gengulphus - the shares that I'm currently transferring to my wife will (along with all of her current holding) be bed-and-ISA'd in their entirety. Neither she nor I will be buying further shares in the company in the foreseeable future. The shares that I plan to transfer back to me from my wife were transferred to her originally some 2 years ago. Again no complications will arise from any further buying/selling within 30 days.
largeronald
14/8/2014
14:42
largeronald, Gengulphus - thanks yet again. Until today, I was under the impression that the "last in first out" rule still applied. My life has just become considerably simpler. Yes, I remember that feeling of relief when I realised I was rid of that complication! Now if only they'd got rid of the 30-day rule as well, we might actually have something approaching simplicity... Just in case it matters: note that the transition rule at the start of the 2008/2009 tax year was that all the separately-dated holdings that had not been "matched" to sales before then by the previous rules got merged to form the initial Section 104 pool. In the case of a long-standing holding that you have previously both bought and sold, with some of the sales before the rules change, but haven't previously had to do CGT computations on (e.g. because the gains and losses in that year were too small), you might have to catch up on the previously not-done CGT computations so get the right initial state of the Section 104 pool. That catching-up would be done under the old rules and so might well involve the LIFO rule... I.e. not everyone has necessarily seen the last of the LIFO rule! :-( Gengulphus
gengulphus
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