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@Ragsrob that's helpful as HL online site appears to offer me the facility to trade MNOD but not in a SIPP or ISA.
I believe MNOD is an OTC (Over the Counter) share so not eligible under UK regulations to be held in a tax wrapper like a SIPP or ISA.
Anyway useful information thanks all.GLA
R
I'll check that out kopfkissen but from the message I received I had assumed it was all still wrapped and that I owned the Mnod shares and they were sold within the ISA but couldn't be held. They specifically said before the sale/merger went through.. complicated. All cash sale will be easier, ha ha
Fund gains with pensions (SIPP or Personal) are not liable to personal taxation. Tax only applies when you take benefits. Lump sum is currently tax free and income withdrawals taxed as income.
Therefore, ISA and SIPPs very tax efficient whereas general investment accounts are exposed to CGT regime.
I hold EUA in all 3 of mine and I hope the share price is a coiled spring !
GLA
Fund gains with pensions (SIPP or Personal) are not liable to personal taxation. Tax only applies when you take benefits. Lump sum is currently tax free and income withdrawals taxed as income.
Therefore, ISA and SIPPs very tax efficient whereas general investment accounts are exposed to CGT regime.
I hold EUA in all 3 of mine and I hope the share price is a coiled spring !
GLA
Only two things matter, the price you paid and the price Eurasia Mining is sold for! What happens in between is irrelevant. Top up on dips and hold for gold
Richardo, I'm not familiar with Sipps but are they not also tax free? My assumption was always that gains in a sipp wouldn't attract CGT, I may be wrong. I would contact your broker Richardo for peace of mind like I did.
Sell them on a yearly basis and pay no tax. Keep within the realms of no tax to pay may take you a few years but save yourself a fortune if you have a large holding. Anyway who said its nn and were getting shares plus payment. All cash deal I want if its going to happen
thanks Tiddlor and kopfkissen. The £20k ISA limit is a real issue.
I hold my EUA shares in a SIPP. I agree with kop/Mrred that selling the MNOD shares would trigger the CGT and if these shares can't be put into a tax wrapper then CGT would be payable. Not the end of the world I guess but not something I had previously considered.
Tiddlor thanks for restarting the thread as only noise before...
GLA
R
correct. ANy profit on sale ablove the CGT allowance would be taxable if not in an ISA when sold.
also doesn't the act of selling them PRIOR to the cash being put into the ISA attract CGT ?? - it is the actual disposal that attracts the CGT not where the cash is going afterwards.
Don't forget you can of course only put £20k into an ISA in a single tax year.
Richardo, I'm not sure if one of my green boxes answered your question but I'll give it a stab. I was told by my broker that just before a company sale/merger any mnod shares could immediately be sold and deposited as cash in my ISA as they don't accommodate Mnod shares on their platform. I would also be given the option of transferring to another platform. Therefore in that circumstance no CGT as all in an ISA. It works for me. Not sure who the vigilantes are, but I may be one as well as being bipolar allegedly.
Hi JM
I agree I would love to pay thousands of £ each month in tax look what you would be earning
cart before horse ! its like tax ill worry about it when it needs to be worried about and i hope i have top pay hundreds of thousands of pounds of the stuff :)
Maybe a question for the English EUA employees?
Does anyone here hold MNOD (Norsk Nickel) shares? I tried to buy a small holding this morning but the current regulations appear to prevent you holding them in a SIPP or ISA.
This could be a concern if NN is the pontential buyer and the deal, or part of the deal, is done in shares and we receive X shares in NN for Y shares in EUA.
Does anyone know how the future sale of these NN shares would be treated for English CGT? Would the whole gain be subject to CGT?
Presumably this would apply to any foreign purchaser but IMO NN is the obvious suitor but came in with a low ball offer, hence the FSP to try to drive the price up.
Apologies to the Board's Viligantes if this post upsets your agenda but these are genuine questions.
DYOR GLA
R