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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 7876 to 7897 of 8325 messages
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DateSubjectAuthorDiscuss
05/1/2015
19:45
I am not qualified to give advice but I think that if you've made a gain overall this year then you carry forward previous years losses unchanged.
david77
05/1/2015
19:36
Hello I wonder if anyone can help my question is about the sequence in which you use the previous years loss total against this years CGT gains If I make a gain of £7k after this years losses (less than the annual exempt amount of £10.9k) do I take the 7k off the previous years loss total and carry forward a reduced total of tax losses to the next financial year or: Is the 7k taken against this years annual exempt amount first and the total (larger) value of the losses remains the same and I carry that larger figure forward to the next year without the £7k gain being deducted, hence I have a bigger figure to offset my CGT liability against in future years Any help appreciated
s2lowner
03/1/2015
19:40
Hi guysWonder if someone would help with my query - I have just accepted voluntary redundancy . About 22k of the package will be taxableIs there anyway to offset the tax payable on my pay in lire of notice etcAm I better not working until new tax year and maybe get a rebate / recalculationAppreciate any thoughtsThanks eringael
eringael
31/12/2014
17:06
Hi David, That's sorted it. I hope it didn't cause too much of a headache. sleveen aka David
sleveen
31/12/2014
16:51
slaveen - would you like to try the calc at www.stonebanks.co.uk again. It's now hxxp://homepage.ntlworld.com/stonebanks/0809tax31.htm
david77
31/12/2014
16:30
Hi David, Just got back home so I've not been able to respond to your earlier reply. I don't have Opera and I'm not sure even if I did I would be able to follow it.
sleveen
31/12/2014
13:52
This is option 2 on www.stonebanks.co.uk
david77
31/12/2014
13:15
Which website uses this code as l use CGTCalculator but will try the other to check the calculations?
smurfy2001
31/12/2014
12:43
I'll change the dates to make it a bit easier: abc 12/11/14, b, 1000, 100, 1006 31/12/14, s, 600, 90, 535 01/01/15, b, 600, 80, 485 if ((Math.round(mydate[selldeal].substr(6, 2) === (Math.round(mydate[buydeal].substr(6, 2) - 1)) // next year becomes if (14 = 15-1) so the answer is true. Substr takes 2 chars starting at the sixth (counting from zero) && (365 - (daysfromjan(mydate[selldeal])) + daysfromjan(mydate[buydeal])) <= 30)) becomes AND (365 - 365 + 1) is less than or equal to 30 - looks like true to me && (bs[selldeal] === "S") && ((bs[buydeal] === "B") becomes AND the selldeal is a sell and the buydeal is a buy - again should be true so under30 should be set true.
david77
31/12/2014
08:18
Hi, I think there may be a bug in David's program as the 30 day rule appears not to recognised as the year changes to 2015. (I have set the days in the program calculation to between 6/4/2014 - 5/4/2015). Companies abc and xyz are the same transactions other than the xyz buy back is 03/01/2015 abc 12/11/14, b, 1000, 100, 1006 22/12/14, s, 600, 90, 535 29/12/14, b, 600, 80, 485 (buy back 7 days later is recognised under 30 day rule) xyz 12/11/14, b, 1000, 100, 1006 22/12/14, s, 600, 90, 535 03/01/15, b, 600, 80, 485 (buy back 12 days later in 2015 is not recognised under 30 day rule by the program) Help/comments much appreciated.
sleveen
22/12/2014
14:03
thanks very much. now i see this CG56100 - Futures: financial futures: contracts for differences The term 'contract for differences' is not new. In its widest sense it refers to any derivative contract involving a cash payment, or series of cash payments, between the parties based on fluctuations in the value or price of property, or an index designated in the contract. It therefore encompasses many financial derivatives, including futures and options which can only be cash settled, as well as swaps. However the term has become associated with a particular type of contract (a "retail contract for differences") marketed, particularly to individual investors, alongside futures and options. Such a contract enables an investor to take a view on whether a share price, an index, or the value of an asset will go up or down. Typically, an investor enters into a contract for differences with a counter-party authorised under the Financial Services and Markets Act 2000, a derivatives broker. The investor may "go long" on the underlying asset or index, anticipating that its value will increase. In that case, he will receive a payment based on the increase in the value of the asset or index between his entering into the contract and closing out the contract. Contracts are commonly closed out by entering into an equal and opposite contract. Alternatively, if he thinks the value of the underlying asset or index is going to go down, he will "go short" in the contract, receiving payment based on the fall in value during the life of the contract. The investor will have to put up a deposit, commonly 20% of the value of the underlying asset, although it may range from about 5% to 35%. As the value of the underlying asset moves, he or she may be entitled to a refund of part of that deposit, or may have to increase it. In the case of contracts where the underlying asset is shares or a share index, the investor who goes long may also be entitled to receive a sum equivalent to any dividend payable on the shares (if they are the underlying asset) or on the shares that make up the index. This "dividend" will be netted off against the deposit. The derivatives broker who is the other party to the contract may also debit the account with a sum equivalent to the interest the investor would have to pay had he or she borrowed commercially to buy the shares. Thus an investor taking a long position on shares worth £100,000, and putting down a deposit of £20,000, will have to pay "interest" calculated on either the gross value of the position (£100,000) or the net value (£80,000), depending on the precise details of the contract. Retail contracts for differences enable investors to have the returns that would arise from holding shares without having to pay the full price for the shares (and without paying the dealing costs such as stamp duty reserve tax). An investor who "goes long" on shares has returns equivalent to those he or she would receive on a holding of the shares in question. An investor who goes short is producing the same results as if they were to enter into a contract to sell, at a future date, shares that they did not own, in the hope that the price would fall before completion of the sale, so that they could buy the shares that they had to deliver at a price lower than the agreed sale price. This means that the investor who takes a short position will be: credited with a payment equivalent to the "interest" they would receive had they sold shares and deposited the cash (the rate at which interest is credited on short positions is generally lower than that at which interest in charged on long positions), and debited with an amount representing the dividends they would forego by parting with the shares. Payments equivalent to interest that the investor makes or receives are not true interest. Similarly, no true dividends change hands. The amounts are instead entered into the capital gains computation. The investor should not show amounts received as investment income (interest or company dividends) on his or her return. And "interest" or "dividends" paid cannot be netted off against income. The final element that enters the computation is commission, which most brokers charge on contracts for differences. Retail contracts for differences are financial futures, and, unless the profits are taxable as trading income, in almost every case TCGA92/S143 charges the outcomes under the capital gains regime (CG56000+). SP03/02 gives guidance on when profits or losses are to be regarded as trading income. All debits and credits to the account, including commission and sums equivalent to interest and dividends, are brought within the computation of the net chargeable gain or allowable loss when the contract is closed out
bagpuss67
22/12/2014
13:49
Bagpuss67, CFDs are subject to CGT and I don't see any reason why 'long' and 'short' CFDs should differ on that: basically, for both of them you effectively buy a contract and later sell it, with the only difference being the exact formula that determines the difference between what you buy it for and what you sell it for. So I'm reasonably certain the answer to your question is that yes, they are subject to CGT. If you want to avoid CGT, I believe you need to use spreadbets instead. Gengulphus
gengulphus
22/12/2014
13:32
hi all..anyone know if gains from shorting shares using CFDs are liable to CGT? cheers
bagpuss67
21/11/2014
15:20
Thanks, Chairman.
peawacks
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
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