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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
  +0.00p +0.00% 4,250.00p 4,240.00p 4,260.00p - - - 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 4.7 3.7 51.1 83.1 353.71

Capital Gearing Share Discussion Threads

Showing 8026 to 8049 of 8250 messages
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DateSubjectAuthorDiscuss
13/6/2016
11:58
david thanks for your post 901, I tried to get on to stonebanks yesterday and it was "server not found"
sleveen
13/6/2016
07:34
Investoree - I agree with much of what you say (and all or almost all of the rest is just stuff I cannot either agree or disagree on, due to lack of relevant experience). My own pet hate is dated letters from HMRC that arrive weeks after the date they say they were sent - which happens far too frequently compared with anyone else who writes to me to be occasional "letter got lost in the system" delays. Either HMRC's own systems have ridiculous delays between writing the letters and getting them printed and posted, or they're outsourcing some part of the process to an ultra-cheap "we'll get around to it when we've nothing else to do" supplier... However, the purpose of this thread is to provide practical help with CGT issues, and providing the link was the only such help I could think of! And while I don't mind the occasional digression into related issues such as the deficiencies of HMRC that you've described and I've added a bit about, I suspect a lot of people would feel they have something to say about them, to the point that they could easily swamp the practical-help aspect of the board... So if people want to discuss such issues, could I suggest setting up a separate thread for them, please? And if anyone does set up such a thread, please do post a link to it here so that people know about it. That includes me, by the way - I'll almost certainly read such a thread and possibly occasionally contribute to it, it's just that I don't want such discussion to make me miss something on this board. Nor do I want the possibility that it will drive away posters who are willing to provide practical help about CGT, but only have very limited time available to do so. Gengulphus
gengulphus
11/6/2016
11:10
Gengulphus - Thanks very much for the link I am protesting that as a matter of principle if it is my legal obligation to provide the CGT information to HMRC then they should provide me with the correct form to complete (especially when the SA108 form has been requested on at least 15 different occasions). Over the years I have had numerous dealings with local HMRC tax offices which have now all closed for unusual and sometimes complex inquiries which with the exception of one Buy-to-let inquiry didn't necessitate the intervention of an accountant. It used to be comparatively simple to visit the local tax office for information, missing documentation and to hand in our tax forms rather than risk having them go astray in the post (as much of our mail has done over the years). On several occasions they arranged appointments with specialist tax officers at the tax office when our inquiries could not be answered by their staff or by using one of their telephones which unlike our calls were normally answered very promptly. Now any inquiries are solely confined to either trying to make telephone contact or written correspondence with HMRC which normally takes them several months to write back, or they don't answer the phone for extended periods. Sometimes having answered the phone they can't provide the information requested because one of one of their systems has fallen over, or they are unable to transfer you to the correct department to answer the query. Most recently when a timed appointment for the specialist HMRC tax officer to telephone me back was made for 3.30pm the pleasant lady who phoned me back telephoned at 9am instead of keeping the afternoon appointment. She claimed that they didn't provide time slots to phone back - if the left hand doesn't know what the right hand is doing how on earth are they going to be able to pursue the large corporations who pay little or no corporation tax as they engage in making artificially high inter company loans transferred through various tax havens. HMRC need to dramatically simplify the current unwieldy tax system, perhaps by starting all over again and rewriting it from scratch rather than trying to adapt an antiquated and archaic system which simply makes matters more complex with every change!
investoree
03/6/2016
22:11
Welcome back David ... Have a good rest ad a speedy recovery ... All the best ...
pedr01
03/6/2016
18:08
... and every year I also request that they send me the correct additional CGT summary form (SA108) to complete and every year they fail. Is there some problem about downloading the form from their website and printing a copy yourself? Or do you just need to know where it is? If the latter, any of the last four years' SA108 forms can be downloaded from https://www.gov.uk/government/publications/self-assessment-capital-gains-summary-sa108 . Gengulphus
gengulphus
03/6/2016
15:41
M_K_Hubbert - Thanks unfortunately following numerous changes of brokers since 1987 because of various take-overs etc there is no standard format from which to be able to input the relevant data. Also many companies have had several name changes, recapitalizations, share splits, scrip dividends etc so I have to use data from my contract notes along with info supplied in the various RNS's etc detailing the changes so it isn't possible to use HMRC's on-line service - also with some shares there have been multiple purchases over the years which I think exceed the total number of trades allowable. For many years I have used the same paper format to provide a breakdown of all the data entered on their SA 100 form and every year I also request that they send me the correct additional CGT summary form (SA108) to complete and every year they fail. This year they sent me another form to complete to which none of the sections related to me so I simply wrote the CGT info in the additional information details at the end of the SA form which will hopefully satisfy them. I have spent hour on the telephone trying to get through and written many letters requesting answers to queries and an E-mail contact address but they refuse to provide one. For many years I had my tax inspectors direct line number and E-mail address and it was simple to resolve any queries expediently and cost effectively. Most recently when I did manage to get through on the telephone their computers were down and there was no-one with the necessary knowledge to provide an answer a ring back was arranged and eventually the person I spoke to informed me that the section I needed had just been updated that day. HMRC staff are as helpful as they can be but the system is antiquated and archaic. PS welcome back David and best wishes for a full and speedy recovery.
investoree
03/6/2016
15:02
Best wishes david77. I've also used your CGT calculator for several years with no comeback from HMRC.
sleveen
03/6/2016
14:43
Thanks for your good wishes - I am still in the land of the living and back home.
david77
14/5/2016
09:30
David77. Best wishes for a speedy recovery from your op.
optomistic
13/5/2016
20:45
Have a good recovery david.
rangers99
13/5/2016
19:05
Investoree, I understand that tasks like filing HMRC returns can become more time consuming with age but I've actually found that, as far as the shares-related sections are concerned it's a lot quicker and easier than when I filed these supplements via paper returns decades back. The trick is to keep records current unless your broker has good output tools in which case it can be done relatively simply at end of tax year. With my broker (HL) the downloaded data (in CSV format) requires little manipulation for input into the online tax calculators apart from the 'dealing expenses' and 'tax' (transfer stampt on buys) not being broken out to which end I've written Excel formulae to generate these missing fields. For dividends available downloads from the HL income account include all transactions including cash withdrawals and transfers and there's no apparent way of using a filter to only capture dividend payments. I use the 'sort' function in Excel to sort the rows via transaction type and can then select blocks of adjacent rows for unwanted transactions, delete same then re-sort remaining rows (which are now solely dividend payments) into ascending date order. Process to extract dividend info for a tax year thus takes just a couple of minutes or so. If you don't have Excel above should work in Open Office - I'm in the process of adapting my system to work with Open Office instead of Excel as PC and laptop are running Linux which won't support MS Office. My computer knowledge is mainly for systems and applications were not my strong point; even so I can make it work and if you care to PM me I might well be able to assist.
m_k_hubbert
13/5/2016
19:00
Thanks for your good wishes. The stonebanks calculator has been around for some time now (10 years or more) and HMRC have always accepted my returns.
david77
13/5/2016
18:12
David77, I have copied the calculation page and it loads fine; am using Firefox but copy (source) process is similar to what you describe for Opera. I take it the other pages should also be copied to one's PC, for example the converter to the CGTCalculator format. Incidentally since my earlier post HMRC appear to have accepted both our tax returns without queries (one used Stonebanks and the other CGTCalculator for supporting calculations) - I've even received a modest refund for tax overpayment. Best wishes for your operation next week and subsequent recovery. Thanks again.
m_k_hubbert
13/5/2016
12:29
Brilliant. Thanks David.
pedr01
13/5/2016
09:55
I use the Opera browser and if you load the program then view -> Developer tools -> source then select all, and copy and paste to Wordpad and save on your machine as taxcalc.htm That should save as a web page.
david77
13/5/2016
09:41
Wishing you all the best David. How do we copy them ?? At the moment I just have a link in my bookmarks to your homepage ???
pedr01
13/5/2016
09:28
david77 Good luck with your major operation next week and hopefully you will quickly recover and get back to leading a full healthy and productive life. Like you as I become progressively older I am increasingly frustrated by experiencing difficulties adapting to not being able to work as productively (both physically and mentally) as I could 20, 30, 40 or 50 years ago - combined with a near doubling and sometimes trebling of the time taken to accomplish even so called simple chores such as completing my self assessment tax return. I am extremely grateful for the unstinting assistance, help and support that you Miata and Gengalphus have provided to many of us less knowledgeable on the various tax threads and I wish you all long, prosperous, happy and successful lives long into the future.
investoree
13/5/2016
08:47
The stonebanks calculator is mine. Thanks M K Hubbert for your kind words. These programs are written in java script and run on your machines. They are self contained. I am now old and decrepit, and looking forward (??) to major surgery next week, If you use the stonebanks progs, I suggest that you copy them to your own machines.
david77
30/4/2016
23:45
I've just used the 2 CGT Calculators when submitting an actual tax return (previously I'd just used them as a trial for a selection of the year's transactions) and thought I'd share my experiences with this board. Previously I'd used the online calculation forms on the HMRC site but they are not meant to work for partial disposals, are clumsy to use, and for 2015/16 I'd made 28 disposals which is over the HMRC limit of 20 for use of their forms. Once I had the input in the correct (CGTCalculator) format it was a simple process to produce the output; at the same time I used the Stonebanks converter so as to compare results. Results were nearly identical, just £1 difference in disposal proceeds (rounding differences). Stonebanks showed 27 disposals as opposed to 28, difference being it combined same day transactions. I preferred the Stonebanks format and used it for my return but will also be submitting my wife's return within the next few days and will use CGTCalculator output. It will be interesting to find out if HMRC have any queries with either of these formats but, from comments on the 2 active CGT threads, they tend to be accepted. HMRC notes required that attached files are in genuine PDF format - I used Word 2016 to save Stonebanks output in PDF format and hope it will suffice. I'd long used Stocktrade and their reporting format was limited by modern standards which normally resulted in my having to extract data manually from each contract note. I took the opportunity last summer of switching to HL at the time of Stocktrade's sale to ATS hence exit charges were waived. HL's reporting tools are far superior and I wish I'd swapped brokers earlier. The data downloaded from HL in CSV format is such that no conversion for CGTCalculator is necessary although the 'Charges' and the (optional) 'Tax' field are not present. Initially I used Excel formulae to generate the 2 missing fields using conditional functions to add £1 PTM levy for considerations >£10k and to add tax if HL's downloaded contract note reference commenced with a 'B' (for Buy). HL's commission is flat rate thus process worked once I'd entered the (typical) 11.95, and applied the conditional check for PTM levy and copied to all cells. Only problem was that HL's commission rates reduce for a month following certain levels of trades in the past month; fixed by comparing the downloaded total transaction value with the number of shares x price although it took fairly complex conditional formulae to cover everything. Checked against varying commission rates and is now producing commission values automatically accurate to 5p (rounding differences and HMRC round costs to whole £ anyway). In summary process now automated to such an extent that I can have the entire year's CGT calulations in PDF format within an hour of downloading data from HL, even with potentially over 100 trades (there were 78 this past year). In my case it's been well worth going to effort of automating spreadsheet as far as possible as I normally prepare CGT returns for myself and 2 relatives. The online calculators, CGTCalculator and Stonebanks, are simply brilliant and my thanks go out to the authors. A couple of more general comments re HMRC's online process for filing returns. 1) I encountered quite a number of instances where 'i' option (for Help) returned 'Sorry, Help could not be found'. Unfortunately broken Help links applied to several of the CGT questions / input fields which I don't find that straightforward - HMRC should have sorted Help function out before current year's returns went live earlier this month. 2) A new 'Verify' process at login to HMRC / Gov't services has just been introduced and to quote Patrick Hutber, late City Editor of Sunday Telegraph 'Improvement means Deterioration' which is definitely the case as far as many rural dwellers are concerned. The Verify process mainly relies on taxpayer receiving an access code via SMS to pre-registed mobile number at each (!) login which is a big problem where network coverage is poor to non-existent.
m_k_hubbert
29/4/2016
11:20
Once a loss has been 'claimed' by telling HMRC about it, it just gets used when the rules say that it is, and carried forward otherwise. There's a deadline for 'claiming' a loss (4 years after the end of the tax year in which the loss was realised); if you miss that deadline, the loss becomes forever unclaimable and unusable. Except for losses realised in the 1995/1996 tax year or earlier, which can be used without 'claiming' them because they're from before the rules about 'claiming' losses came in, but that will probably be a pretty rare case by now! But there's no limit on how many years a loss can be carried forward. And there is normally (*) no choice about whether you use losses or not - the rules about offsetting losses basically just operate automatically, with all that needs to be kept track of between one tax year and the next being the total amount of losses carried forward between them. Losses enter into the calculations in the tax year in which they are realised and the calculations determine automatically when they get used, without being affected by any choice the taxpayer makes about the loss other than whether to claim it at all. Not even choices about when to claim a loss, by the way, because losses enter the process for the tax year in which they were realised, not the tax year in which they were claimed. E.g. if you were to claim a loss now that you realised in the 2012/2013 tax year, which you can do up to the end of the current tax year, you don't automatically get to use it against a gain realised now. Instead, you have to redo the loss-offsetting/forwarding calculations for the 2012/2013 tax year, then if that increases the losses carried forward from 2012/2013 to 2013/2014, redo them for the 2013/14 tax year, then if that increases the losses carried forward from 2013/2014 to 2014/2015, redo them for the 2014/15 tax year, then if that increases the losses carried forward from 2014/2015 to 2015/2016, redo them for the 2015/16 tax year. Finally, if all of that increases the losses carried forward from the 2015/2016 tax year to the current 2016/2017 tax year, you'll be able to realise more gains in the current tax year without needing to pay CGT on them - but there is a bit of a chain of "if"s in that! So basically, once they've been 'claimed', you carry losses forward until they're used, however long that takes (or until you die, which brings all of your CGT affairs to an end, with any losses still unused at the point of death no longer having any possible use). So in one sense, you can carry losses forward indefinitely - but not in the sense that you can choose to carry losses forward indefinitely. (*) I say "normally" because there are some unusual circumstances (for example, some cases involving "clogged losses" realised on disposals to "connected people") in which I believe you do get some choice about using losses. But not anything you'll encounter in the normal course of buying and selling investments. Gengulphus
gengulphus
16/4/2016
14:46
Thank you. Last question. How many years can I carry forward losses?
sniffer2
14/4/2016
09:14
The cgtcalculator.com website now has a "live portfolio" capability. Basically it extracts the current bid price of your stock from yahoo and works out a running total of your capital gain/loss. Note this only works if you are using the stocks' EPIC code eg. GSK for GlaxoSmithKline. Also you have to click the "live portfolio" check box.cheers
rangers99
07/4/2016
17:08
Sorry all, Doug at the CGT Calc website emailed me just now saying showing the tax calc. I forgot about the tiered rate between 18% and 28%. so obviously my blended rate is lower. Been a while since i had a capital gain calc to do!
randowiggum
07/4/2016
15:57
randowiggum Can you post the numbers ie. the tax year and your capital gain so we can check. David is right, the main thing is the actual capital gain, the HMRC will automatically work out your tax due based on a lot of other factors no doubt. CGTCalculator just assumes there is zero income. However it would be good to make sure the value is correct.
rangers99
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