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Basser ... At the risk of perpetuating a thread that has already been answered ... The following link is informative .. particularly the bit on IHT ... something some of us older ones may need to think about ... However I will spend most of mine on cigarettes and whisky and wild wild women ... The rest I will squander ... https://aim-watch.com/project/aim-tax-benefits/
Hot - just got in and read your reply re CGT Tax.. I can only apologise for having a very senior moment. Hope the Sareum pills will be able to address this condition in the future! Mafuta - thanks for clarifying the situation.
Mafuta / Holbeach- That exemption relates to Corporation Tax on UK capital gains made by the nominated company. I'm not aware of any other exemption but I'm no expert unfortunately. ISA to the max as soon as possible. Regards and GLA
''there are plenty of AIM dogs''
Totally agree Spank.the.monkey (just have to look at the rest of my Portfolio!) although thankfully my investment in GGP, 7 years ago now, has covered ALL of my historical losses and left me still sitting on a 15 bagger and a low to mid 6 figure paper profit .
So glad I was recommended this share, and currently hoping that 'lightning' will in fact 'strike twice'! ;-)
GLA
Hot black ... Yes! ... But there's also an exemption if you have held for more than 2 years ... I think the short of it is ... get your SAR shares in an ISA (or multiple ones) or a SIPP (but that also has tax issues) ... and if you have enough to worry about GET PROFESSIONAL ADVICE. And do it NOW ... unless you happy to give the government a slice of your profit.
Hi Mafuta - do you mean this? https://www.gov.uk/guidance/elect-a-qualifying-company-for-tax-exemption-on-uk-capital-gains
Hot black ... Basser is partly right there are certain AIM companies that are CGT exempt but they have to fit certain criteria ... which I cannot remember ... However one thing is certain ... If you have enough to worry about GET PROFESSIONAL ADVICE ... Did I say that loud enough?
Lest anyone be in any doubt - https://www.gov.uk/tax-sell-shares
Basser - where have you read that most AIM shares are exempt from CGT? They are exempt from stamp duty, not CGT as far as I'm aware.
CGT is due the moment you realise the gain (that means the day you sell your shares) and your gain for the tax year is over the threshold i.e. you sell shares in your trading account and any profit over £12k (or whatever the tax threshold is) is liable immediately for CGT. Some people think as long as they keep the money in their trading account they're ok. They are not.
Anything in a Stocks & Shares ISA is bulletproof, dividends included.
https://aim-watch.com/project/aim-tax-benefits/
Regards,
Hotblack.
Basser it's only certain AIM shares not all and don't know if SAR fits the definition... and I agree, if you have enough to be concerned about you need the advice of a professional.
Only IHT.But tke advice!
Cobalts. I’ve got most of my shares in an ISA. But I do keep reading that MOST Aim shares are exempt from Capital Gains tax. The problem is I have yet to find out anything about which type of aim share would be subject to the tax. One for the tax experts.
Would just add that I'm a long time holder of SAR (about 10 years) but started topping up an existing modest holding last year and more or less consistently until earlier this year. In that time, once the SP began to move a bit, I traded on a regular basis and reinvesting most of the proceeds just keeping a few quid as pocket money to spend on my old classic car. The most fortuitous move I made, was to bed & ISA my then holding in August 2020 at a sell price of £0.008500p and a buy back price of £0.008560! I thought I might as well get the shares in an ISA so that I would be protected from CCT in the unlikely event that CCT would be an issue. I'm pleased to say, it would certainly be an issue now on disposal! A rare AIM success story.
Thanks Cobaltblue. I’m pretty much same as you. I sold my accountancy practice last year which was a surprise in itself (in a pandemic!) and have moved into semi retirement. If SAR gets to the fabled 28p it will mean being able to stop work completely, and to relax and do a few more things and in a bit more style than originally planned without having to watch every penny all the time.
Been there, done that and got the tea shirt Silver. 10 years to get to where we are? I first invested in SAR in 2005/6 I think, 15years of long term knowledge gestation and build to get to the launch pad Sareum are now on, frustrating at times, exciting at others. A buy out or multiple licence deals are now close and the payback will make a massive difference to my retirement finances.
cobaltblue - there are plenty of AIM dogs, I discovered Sareum late in the day as it were but already it's well on the way to balancing the losses on my other stocks - to say I'm very grateful to the well researched individuals on this board who influenced my decision to invest in Sareum is an understatement.
I can relate to all these comments. As an older retired person with no mortgage etc, my priorities are maybe different than some on here. I don 't have millions of shares but enough remaining (after selling enough to get my stake back a few weeks ago) to make a tidy sum at 20p. My buzz stems from the fact that Sareum has enabled me to recoup all my losses from some of the AIM dogs I've been involved with since 2009 when I first started investing/gambling on AIM. I have to be honest and say that I will be immensely relieved should the big money materialise as it is certainly a dream come true so far. Continuing GLA.
I think there are lots like us Timbo. I wonder how many here are looking at potential “life easing” or “life changing” consequences? 25, 50 maybe 100?
I can't manage the 7am bit either Falkirk other than that mirrorimage
Silver I thought it was just me!
Thanks Jonshare .. I will certainly miss the excitement when the deals or takeover are done. Finding another share to enjoy is another thing! The SAR is a rare occurrence and I believe we are quite lucky we dropped on the right one at the right time. There are over 1000 companies on AIM and it has taken over 10 years for SAR to get to where it is now. So the chances of dropping on another one like this are not high! I thought I was on to a similar ride with the Falklands Oil story but in spite of it looking like a nailed on good bet 10 years ago when they struck oil they ended up losing 90%. Thankfully I have got it all back and much more with SAR!
I could also copy and paste exactly (if I manage to be up at 7am that is) and the phone on my calculator is well used working out my current valuation.
I still find it quite unbelievable that people are buying shares at these prices and I was buying last year at 0.7. I never had the money at the times it was as low as 0.28.
Even my initial purchase back in 2011 at 3.7 doesn’t seem too bad now
To think 28p is just over 3 times the current share price. Definitely be life easing for me and if went to around 40p then life changing
Enjoy the weekend.
GLALTHs
Could i copy and paste your post as it describes me ??
Weekends are the worst ever as nothing to do but wait till Monday morning again.
It makes the working day more interesting as keep checking with eventually knowing ill be able to reduce my work hours
Though ill miss all this when i sell im sure there will be another share to invest in for the rollercoaster
Ive invested small amounts in other shares so that will keep me going too
There may be a reasonably large number of people on here looking at life changing amounts of money if SAR gets to 28p or beyond. Just wonder how people have dealt with the tension, excitement and anticipation of the share price rises over the last few months. I find my days are defined by waking up at 7 to see if there is a red dot, waiting till 8.05 for the first share price movement, checking LSE every 15 to 30 minutes to see where the price has gone and revaluing my holding each time. It becomes almost hypnotic and hard to take your eyes off it. Just wondering how others are dealing with the emotional roller coaster this creates? As mentioned previously I have a pretty rigid sell strategy in place that helps me but it has been hard to contain the excitement over the last 3 months and focus on other things.