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
  15.00 0.34% 4,480.00 4,470.00 4,480.00 4,480.00 4,470.00 4,470.00 25,582 15:49:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 4.7 3.7 51.1 87.6 490

Capital Gearing Share Discussion Threads

Showing 8176 to 8200 of 8275 messages
Chat Pages: 331  330  329  328  327  326  325  324  323  322  321  320  Older
DateSubjectAuthorDiscuss
17/12/2018
08:11
SarahBudd, You generally only report on your 'realised' gains and losses. Realising a gain or loss generally only happens when you dispose of the shares (or other asset), usually by selling them - but there are other ways of disposing of an asset, such as giving it away or it ceasing to exist, and they also realise gains or losses. But if you still own the asset, generally you haven't realised the gain or loss, and you shouldn't report on it - that's an 'if and when' job that should only be done on a future disposal. So the answer to your question 2 is basically that no, you shouldn't report on shares you haven't yet sold. Your allowable costs for an asset are generally what you actually paid for it, plus 'improvement' costs, plus the 'incidental' costs of acquiring and disposing of it. For shares, yes, that's the basic price paid for them. I think answers your question 1, but I should probably expand on the answer a bit to avoid possible misunderstandings! 'Incidental' costs of acquiring and disposing of an asset are fees, taxes (other than the CGT being calculated itself!), etc, that are wholly and exclusively associated with the acquisition or disposal. For normal purchases and sales of shares, they include the broker's commission for each trade, stamp duty on the purchase, and potentially PTM levy on either or both of the trades (if they exceed £10k in value). They do not include such things as account fees that are charged for providing you with the facility to trade shares at all: those aren't "wholly and exclusively associated" with any one trade, and so aren't allowable costs for any trades at all. So for a very straightforward purchase of a shareholding and later sale of the same shareholding (with neither trade exceeding £10k in value to avoid cluttering the formulae up with PTM levies) the gain or loss calculation is officially: (disposal proceeds) - (allowable costs) = (sale basic price received) - (purchase basic price paid + stamp duty + purchase commission + sale commission) If one shifts where the sale commission is subtracted, one finds that is equal to: (sale basic price received - sale commission) - (purchase basic price paid + stamp duty + purchase commission) = (bottom line of sale contract note) - (bottom line of purchase contract note) which is probably the easiest way to calculate the final gain or loss, as those bottom line figures are the ones that actually appear in broker statements, etc. But in anything that asks for "disposal proceeds" or "allowable costs", for strict accuracy one needs to adjust to put the sale commission in the right place. 'Improvement' costs are basically anything you've spent on improving or enhancing the asset, provided the improvement is still there when you dispose of it: the classic example is that if you buy a house, build an extension to it, and sell with the extension still there, your allowable costs include both the price you paid for the house and the cost of building the extension. (But if you decide you really don't like the extension as it's turned out and have it demolished, and sell later, they only include the price you paid for the house - neither the cost of building the extension nor the cost of demolishing it are allowable.) It isn't obvious that 'improvement' costs ever apply to shares, but it looks to me as if the rules about rights issues involve them: in particular, the bit of https://www.gov.uk/government/publications/share-reorganisations-company-takeovers-and-capital-gains-tax-hs285-self-assessment-helpsheet/hs285-share-reorganisations-company-takeovers-and-capital-gains-tax-2018 between examples 3 and 4 says "There are special rules that deal with any amounts you have to pay on a share reorganisation, such as when you take up a rights issue. ... If the share reorganisation is a rights issue, you add the cost of the further shares acquired in the rights issue to the cost of the original shares." (and example 4 shows an instance of this being done). As far as I can see, that's a pretty good match to how 'improvement' costs are treated, and it does actually fit in with how a rights issue works: the rights are essentially a split-off part of the original shareholding, and subscribing to them improves them into full-blown shares. Finally, I should say that there are a fair number of 'weasel words' like "generally" and "basically" in the above. This is because there are often special-case exceptions to what I've said, that would take far too long to list fully (even if I knew them fully!). An example is what happens if you're given some shares: CGT treats it as if you'd paid the donor market value for them (so both their disposal proceeds and your basic acquisition cost are that market value, not zero). Another is what happens if a company goes bust: its shares will continue to exist while it is administered/liquidated and only cease to exist when all its affairs have been completely dealt with and the company is finally dissolved, potentially quite a few years later. During that time, you haven't actually disposed of the shares, so haven't actually realised your loss - but once the administrator/liquidator has recognised that there's no prospect of shareholders getting anything, you can make a 'negligible value' claim to be treated as if you had realised it. Gengulphus
gengulphus
16/12/2018
15:32
Hi.. I'm sure you will be able to answer these questions for me. I have a large CGT loss from Globo! I have informed HMRC and will be offsetting against gains for this and future years, I hope. I am completing my SA and am stuck on the question in Listed Shares & Securities section.. 1) I sold some shares that I bought in previous tax years. Do I include the cost of buying those(not commission, but actual outlay)in Allowable Costs 2) Do I include shares that I bought in this tax period but have not yet sold in same box? I have entered my losses on Losses & Adjustment pages successfully. I also have attached a document showing breakdown of gains to Tax return Thank you for any help
sarahbudd
18/11/2018
14:50
Thanks Gengulphus, have found share price on day of receiving them, along with the sell details. Will enter as that; they can always come back if any problem. Thanks again for being there for everyone.
ziblot
12/11/2018
17:41
With regard to who r u who r u?'s US tax question, ISAs provide no protection whatsoever from US taxes, just from UK taxes. I'm afraid I don't know the US tax system anywhere near well enough to know when US CGT might apply - but if it does apply to you, it will apply regardless of whether the shares are in an ISA or not. My lack of knowledge extends to all other foreign tax systems, by the way - I would expect few (if any) of them to recognise ISA tax exemptions, but I don't even know that for certain... SIPPs provide better tax protections than ISAs, as quite a few countries do give pensions tax protection and do recognise SIPPs as pensions. As I understand it from what others have posted here and elsewhere, they include the US, at least if the SIPP provider is willing to produce the right documentation (and I also understand that some are and some aren't...). But again, I'm afraid I don't know any of the details - sorry! With regard to ziblot's corporate action question about Sou / Coro Energy, from the sound of it he or she once had one shareholding and now has two, i.e. essentially the shareholding has been demerged. When I last looked at the details of the CGT calculators, which was several years ago, they didn't really have the ability to deal with demergers - the best one could do was to introduce a fake 'sale' of the original holding for its base cost, which will result in neither a gain nor a loss, do the apportionment of that base cost between the two resulting holdings by hand, then produce fake 'purchases' of the two resulting holdings, each for its portion of the base cost. That has the potential to go wrong for CGT calculations that depend on trade dates, since the fake trades have to be given a date (probably the demerger record date), while the official CGT position is that no trades actually took place - the base cost simply got re-attributed between the new assets. So the calculator may be working on false assumptions about the date relationships... And to be honest, I don't really understand all the cases that might apply for the 30-day rule if one were to sell shortly before a corporate action and buy the new holding(s) shortly after, with the purchase less than 31 days after the sale - knowing whether the 30-day rule applies could be complex in such cases! Though I've never really tried hard to understand them, because at least for me, it's much easier simply to avoid putting myself into that sort of situation! To be clear, I've not (yet) looked at the details of the Sou / Coro Energy corporate action - this answer is about what sounds to be its general nature. I would always want to get hold of the company's shareholder circular about the action and read what it has to say about taxation: such documents are not the easiest reading matter, but the answer can usually be extracted from them. Gengulphus
gengulphus
11/11/2018
16:22
Hello Gengulphus, any one? Had shares in Sou who divested there Italian asset to Coro Energy. I received 20591 shares which was known as the Repayment Record Date. How do I enter the transaction in the CGT Calculator. Thanks All. hTtps://uk.advfn.com/stock-market/london/sound-energy-SOU/share-news/Sound-Energy-PLC-Completion-of-Italian-Divestment/77129122
ziblot
11/11/2018
02:46
serratia - I got some US listed stocks moved from the US holding broker into my I-dealing account (not ISA). Took a few months though.
steve73
10/11/2018
12:40
Thanks guys..
who r u who r u
10/11/2018
10:38
I receive dividends from a US company. The tax rate on dividends according to these links is 30%. I've filled in WBN forms and this tax is reduced to 15% as a special withholding tax. When I fill in my UK tax form the tax office treats me as already having paid 15% tax. I don't get the 15% back as that's a US tax. My shares are not in an ISA, they're held by computershare in the US and my broker says it's a problem to get them transferred out into a UK broker. If they were in an ISA there would be no CGT to pay on disposal. hTTps://www.investopedia.com/ask/answers/06/nonusresidenttax.asp hTTps://www.irs.gov/pub/irs-pdf/p515.pdf
serratia
10/11/2018
09:09
As I understand it, you don't need to pay any CGT on disposals within an ISA, but unless you have filled in your WBN you will pay US tax on the divi's that you can't claim back. With a regularly submitted WBN, you pay no tax on divi's, and if held in an ISA there's no further tax to pay.
steve73
10/11/2018
05:10
has anyone bought US stocks in to ISA? we don't pay cgt in ISA but would we need to pay any US tax and if so is that automatically deducted on our disposals? Really sorry to post this here because i just couldn't find the info but i'm interested in buying US stocks but apart from filling in a WBN form i don't what/if anything i need to know.
who r u who r u
08/11/2018
21:08
Gengulphus, Many thanks for the clarification. Dcarn.
dcarn
31/10/2018
06:33
dcarn, Scenario being I have section 104 holding in share xyz with no purchases being made since 2015 and I have never sold any. I then purchase 10000 xyz shares on 15-10-18 for a short term trade and then sell 10000 xyz shares three weeks later on 5-10-18 for a small profit. Question, does the 10000 purchase have to be added to the section 104 holding before calculating any gain / loss or is this treated as a matched trade under the 30 day rule? It gets added to the section 104 holding, then the subsequent disposal identifies the shares sold as a portion of the section 104 holding, as normal. HMRC HS284 is clear enough for disposal then acquisition within 30 days but it does clarify for acquisition and the disposal within 30 days. That's because the same-day rules and the 30-day rule are exceptions to the normal way of using the section 104 pool. There is no such exception for disposal in the 30 days following acquisition, only for acquisition in the 30 days following disposal. Gengulphus
gengulphus
30/10/2018
16:05
Hi, I've a question with regards to section 104 holding, share purchase and subsequent sale. Scenario being I have section 104 holding in share xyz with no purchases being made since 2015 and I have never sold any. I then purchase 10000 xyz shares on 15-10-18 for a short term trade and then sell 10000 xyz shares three weeks later on 5-10-18 for a small profit. Question, does the 10000 purchase have to be added to the section 104 holding before calculating any gain / loss or is this treated as a matched trade under the 30 day rule? HMRC HS284 is clear enough for disposal then acquisition within 30 days but it does clarify for acquisition and the disposal within 30 days. Dcarn.
dcarn
25/9/2018
18:35
Gengulphus - a big thank you from me too! Your reply obviously wasn't just dashed off in a couple of minutes so I really appreciate you for taking the time and effort in responding. I can understand what you are proposing - just a matter of implementing (correctly!). Thanks again
fbrj
19/9/2018
20:25
Hi Gengulphus Thank you for your reply. Sorry for the delayed response in getting back. I will try the other thread as well. Thanks
asif12
18/9/2018
09:40
asif12, I've no experience of investing in Dubai and very little of investing abroad. But in very general terms, my impression is that the sort of thing you're talking about is more likely to be treated as some sort of partnership income than as capital gains - though it may well be possible to get various different tax treatments by structuring it appropriately. I've got little knowledge of the range of options is for structuring such a deal, nor of what their various advantages and disadvantages are. And this is a thread specifically about CGT, rather than about tax more generally. So I think you would probably do better to ask on a more general thread about tax - https://uk.advfn.com/cmn/fbb/threads.php3?symbol=TAX might help you find one. (Though to be frank, dealing with tax issues involving multiple countries is a somewhat specialist subject, and the answers differ depending on the countries concerned - so one generally needs to pin such a question down to specific countries, and when one does so, it becomes more specialist. So you might end up needing to try to find a more specialist tax board, see whether you can get some answers from HMRC, or pay for tax advice. But I'm not saying you definitely do need to do any of those things - I simply don't know enough to even be able to say that for certain!) Sorry I can't be of more help. Gengulphus
gengulphus
18/9/2018
09:13
fbrj, During the course of the last tax year I switched most of my trading to Hargreaves Lansdown. How do people convert their HL trades into a suitable format, other than a 1 by 1 line by line alteration of a downloaded spreadsheet? Previously with Barclays I just pasted my downloaded Excel files into the calculator. I've no real experience of either cgtcalculator or Hargreaves Lansdown. But as a general rule, I'd expect to be able to do that sort of conversion by putting the spreadsheet I've got in one worksheet, then constructing the first row of another worksheet by formulae from the first row of that worksheet. So as a very simple example, suppose I had a list of trades in Sheet1, with the first column being B for Buy or S for Sell, the second being the number of shares bought or sold, and the third being the amount of cash spent or raised. And suppose I instead wanted it in the form (net change to number of shares) followed by (net change to amount of cash), then I could set cell A1 of Sheet2 to: =IF(Sheet1!A1="B",Sheet1!B1,IF(Sheet1!A1="S",-Sheet1!B1,#N/A)) and cell B1 on Sheet2 to: =IF(Sheet1!A1="B",-Sheet1!C1,IF(Sheet1!A1="S",Sheet1!C1,#N/A)) That takes a bit of time to do, but once done, I can then just copy row 1 on Sheet2 to further rows to do the same conversion on each corresponding row of Sheet1. I.e. basically very little work after the first row has been converted - though do check the details of an instance of each type of row to make certain the conversion formulae being used handle that type correctly! And one other tip about the technique is that if you find an error in the conversion formulae, correct it in the first row and then re-copy the first row to all other rows. Otherwise, you're liable to find yourself with a spreadsheet in which different rows have different bugs remaining unfixed in them, which can be a bit of a nightmare to sort out if you later encounter further problems in the spreadsheet... Gengulphus
gengulphus
15/9/2018
08:35
Just wondering if anyone has invested in a business in Dubai and what the tax implications are when you bring that money to the UK. I am UK resident and pay taxes here. Here is what I am planning to do (still early stages though). My cousin who lives in Dubai is starting a jewellers. He asked me if I would like to invest in the business. As it is related to gold i am very keen. I am thinking of maybe investing around £20K or maybe invest money to buy 1kg of gold(so roughly about £35K). He will send me the profit i make each month through bank transfer etc. Anyone know what sort of information i need to keep to show HMRC when i file my return? In terms of his credentials - he is very good at what he does as he has many years experience in the gold business. If it is straight forward for me to invest then I might go for it. If anyone has invested in Dubai etc - any advice would be much appreciated.
asif12
11/9/2018
22:57
I've used the excellent cgtcalculator.com for many years. I have 2 questions: During the course of the last tax year I switched most of my trading to Hargreaves Lansdown. How do people convert their HL trades into a suitable format, other than a 1 by 1 line by line alteration of a downloaded spreadsheet? Previously with Barclays I just pasted my downloaded Excel files into the calculator. I only have hard copy of previous cgt returns (pc crash - and have lost my underlying spreadsheets). I have a figure for b/fwd losses for future offset. In constructing a spreadsheet for 2017/18 it seems to me that all I can do is to insert a fictitious trade in order to generate the correct b/fwd loss figure and inform HMRC what I have done. Any other suggestions?
fbrj
04/9/2018
06:23
Much appreciated Gengulphus. Thank you
harrogate
03/9/2018
14:28
Harrogate, Yes, I think you're right, and that's what I would do (except of course that if the gains previously deferred were on unlisted shares, I would use box 34 instead of box 26). I think I would also say something brief in box 54 such as "CGT computations include revived gains of £NNN that were previously deferred under EIS relief." Cannot say that I'm 100% certain that's the exact way one is supposed to do it, but I don't know of a better one, and if by any chance it is wrong in some way, I don't think HMRC could do much more than tell one how to do it next time... Gengulphus
gengulphus
03/9/2018
12:55
Can someone tell me where on the CGT pages I include the amount of gain that I had previously obtained EIS relief on now I have sold the EIS shares after the 3 year period? Do I just include it as a "gain" in box 26 and show in my CGT calculation as gain previously deferred under EIS relief ( shares now sold) ? Really appreciate the help Thanks
harrogate
07/5/2018
14:03
Gengulphus Many thanks for clarifying the situation regarding brokers fees, you have saved me from falling foul of the Inland revenue. I cannot thank you enough.
rhcm
07/5/2018
12:27
rhcm, No, sorry, a fee has to be wholly and exclusively for the specific asset to be an allowable cost for CGT. A broker's quarterly fee is (unless I'm misunderstanding what you're talking about) for providing the account, which you could use for any number of shareholdings, and so it's not wholly and exclusively for any specific shareholding, and not an allowable cost for any of your shareholdings. That might be a debateable point if you opened the broker account only for the purpose of holding one specific shareholding, and only ever actually used it that way. But I wouldn't bet on it! Edit: By the way, I don't really know what you mean by "Can I still use ..." - broker's quarterly fees have never been allowable costs within my experience of CGT (roughly the last 20 years)... Gengulphus
gengulphus
07/5/2018
10:19
Gengulphus, many thanks for the detailed reply, you really have been a great help. I would not want to make a claim immediately as i plan to use the loss in the future. Can i still use the brokers quarterly fee as an expense and add it to the loss in a similar way to brokers trading fees? Thanks
rhcm
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