I sold 35000 shares on the 3rd march @ 81.3p I will be buying back in in early april ( 30 days after I sold). Silll holding 50000 shares. I have sold to use up my CGT for 2013/14. I bought the shares at 34p. So hopefully the flat share price will continue into April. The share price will jump when q1 report is out 1st MAY IMO In fact im thinking i might top up more than i sold and buy 50000. Taking me to 100000 share I like to work with round numbers!! easier to work out the profit. lol
Worth reading the bed and breakfast rule about selling and then re-buying the same shares within 30 days. Complicated but in general you are deemed to have bought the new shares at the price you bought the ones you originally held. Like I said complicated - that's my take on it.
Thanks Paul. That would make sense, I can't see any timescale restrictions so all good. I guess some investors must sell shares before year end to use their allowance and buy back in next FY to capitalise.
CGT becomes payable during the tax year in which the profit was made. So irrespective of when you made the purchase, the CGT liability is geared to when the sale/profit occurred. I'm not an accountant so take professional advise but certain this is correct.
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