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Luckily I sorted my bag and isis ages ago!
'Bag and ISA' really did amuse me though.
Next we'll all be trying not to fall foul of the 'bed and champagne breakfasting' rules.
Also, but pointless at this time because the stock is suspended and you cannot buy any, but if you had a "Cash ISA" this can be converted into a "Stocks and Shares ISA", just a matter of filling out a simple bit of paperwork and you can now buy your stock from within the nice ISA wrapper and pay NO tax as you already know.
Just for inro as well.
The procedure is called "BED & ISA" ie not "BAG".
Just for info.
No quite the full story in a SIPP.
If you beach 1,050k then you pay tax on the excess at some stage. The latest you can delay to is aged 75.
The worst thing with the ISA transfer is your amount of shares, particularly when it is volatile. Your provider chooses when they buy and sell once you give the order. It really depends on how many you have. Best to take accountancy advise, there a lots of offsets against CGT.
I tried to BAG & ISA just before the suspension, but wasn't quick enough. Am I going to regret this when the shares comes back into play? I guess I just need to BAG and ISA when they come away from suspension. Hopefully HL won't be too busy making deals on the share at that time.
There are a couple of potentials out there. Personally I would think it will be Norilsk Nickel, how are on the doorstep of EUA and have a smelter nearby, or Rusal, who own nearly 28% of Norilsk Nickel. But you never know...
Well bring on partial sale if that's the way to go keeping a 10% loyalty then mine west k to death.
Well we prob about 6 week away from new mining season start either way if no deal found we can start our own mining and surely the sp would rise on that news or we get the Rns we waiting for and all be happy
if this brings as much as some are hoping for ... ISAs will be!
Yes ...nothing is taxed in an ISA
That's right - no tax is paid in a SIPP either.
And that includes dividends?
No tax at all in an ISA.
What if your shares are in an isa do your dividends come under the same umbrella if not then I see a total buyout..
Dividends are taxed as follows:
£2k tax free
7.5% to basic rate band (on your total income)
32.5% Higher Rate
38.1% Additional Rate
To split CGT you would have to sell half before 5th April and half after 6th April
Subject to other gains made etc etc
"If you earn less than the 40% tax rate band, you can use the difference up to the band at the lower rate also."
And as an aside, if given the choice, if you take half of the gain in march, for example, and the other half after 6 April, you will utilise two CGT allowances, giving you c.£25000 of the gain tax free.
I agree with The Apprentice star
If you earn less than the 40% tax rate band, you can use the difference up to the band at the lower rate also.
"You then decide if you want to sell and pay capital gains tax or wait and pay dividend tax."
So just to expand I suppose, CGT would usually be 10%/20% depending on your tax band, you have a c.12k CGT tax free allowance each year and you can utilise any CGT losses made to date against this profit.
For a dividend, income tax is payable. You have your personal tax free allowance which is likely used with other income, you will have a £2k zero% dividend tax band and the rest will be paid at c,20%/40% depending on how much is any you have left in your basic rate band.
If in an ISA you will not suffer tax.
If given a choice, almost everyone would be better crystallising a CGT gain rather than an income tax charge.
Hi eryryss, how long is a piece of string? I sat on my hands and watched £4K go down the pan with Carillion!
AFC rose 200% and I thought it's come this far, I can wait for more. 200% ebbed away but it has since recovered by 75%.
If I do take a slice, if and when EUA gets sorted, it must be an amount which I did not have yesterday but still makes me smile. Perhaps a chunk of that Carillion loss would help. If I do, I will be grateful but I won't look back.
Take-over or not?
Apart from MT, the assets are fairly small as far as a big miner is concerned. I don't think they will have much interest in the odds and ends, and would pay very little extra for them. On the other hand the current management can continue working to exploit these other assets in the hope of another big payday.
Dimitri has always talked of sale of assets, not sale of the company.
You wont pay capital gains tax in an isa.