Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Paul,also remember to make sure and cash in on any shares with large gain as by the following year they may have too much profit if you sell(not a bad problem to have but never give the tax man if possible,again sure it’s something you already know but sometimes worth stating the obvious,as can be lost in the thinking about the task)
meoryou
Yes buying in the ISA first is my preferred option, but it depends is I have the funds available, which is probably unlikly, but at the moment I have a little over £12k and holding dividends to give a little more wriggle room.
I was thinking the same around the exdiv date, and if I am able to buy in the ISA first, it may be I can find a slight advantage.
Paul
With some shares it’s maybe possible to get a predicable movement around ex div or results day so you can sell and then buy is isa at a later date when it suits.
It’s never a guarantee but some you will win,sp graph will let you see if this happens often with each individual share.(sure you already know this)
With hindsight it’s often easy to pick shares that follow this pattern,It’s what I will be trying myself.My other plan is to buy first in ISA then sell the others only when above the price when bought into ISA(need to have spare funds for this)
r1234
Yes, I'm going to have to wear that alongside trading costs.
Don't forget you have to pay 0.5% stamp duty on most purchases so selling and buying back will incur a small loss.
hefonthefjords
Thanks for the reply.
I am I think trying to solve an impossible puzzle but worth a go.
In essence I have around £250k of stocks outside any tax haven and over the next few years have to find the best way to get them into my ISA.
I'm not aware of any way (except in very limited circumstances) where I can simply have the stock transferred into the ISA wrapper, so have to sell stocks and transfer cash.
It may be due to the time delays I will take a hit on some and gain on others so hopefully it will even out a little.
I'm confused a little by what you are asking here too, this share is already ex-div as of 2/12 which means no matter what you do now you will get the dividend as the date of record should have been 3/12 or 6/12.
I may be wrong here but if, as it seems, your question is as simple as "when is the best time to rebuy in the new account?" the answer is on dividend payment day as the share price will reduce roughly by the dividend per share value, in this case 17.21p on 19/1 making that the optimum time to rebuy for a pure dividend capture play. This strategy doesn't account for any share price movement between now and payment day though so the net benefit is a total gamble that none of us can really specify the outcome of for you as the share price will do whatever it's gonna do no matter what we say or think about it.
I understand you may not be specifically talking about NG. but the same theory applies elsewhere. Ex-div day + 2 is usually the day of record and no matter what you do after that date you will recieve your dividend allocation for the shares you owned through that ex-div day + 2 period.
As far as minimising tax liability goes, I don't know enough about how what you are doing works in that sense to offer any useful help there I'm afraid.
Best of luck. :)
I see my error.
I meant out of my BED account.
SFH300
Yes sorry I wasn't clear. What I'm trying to achieve is to transfer stocks held in my BED into my ISA as efficiently as possible. With some types of stock I am given to understand dividend capture is less efficient (utilities ?) so I will try and make use of the SP changes around the ex dividend date. Others I may benefit from dividend capture.
If I understand it correctly I cannot simply transfer the stock directly from my BED into the ISA in this instance, although I am aware there are certain specific circumstances where that can be possible.
In my circumstance I cannot simply transfer cash from the BEd to the ISA, hence I have to clear funds through my bank account.
Cheers
Must admit I'm a bit confused by this.
You say you "would not usually consider dividend capture strategies," but the rest of your query seems to suggest you won't be getting a dividend anyway. Just to clarify, this is what I'm hearing:
1. You want to sell after the declaration date but before the ex-div date of stocks held in your BED account;
2. Proceeds of the sale are then transferred to your regular non- or minimal-interest-paying bank account;
3. The proceeds are then transferred to your Stocks & Shares ISA account;
4. You then buy back the stock you sold into your S&S ISA account at the post-ex-div price.
I don't quite understand why you want to miss out on the dividend, especially as dividends are taxed separately. Sincere apologies if I'm being thick and missing something obvious.
Hi
While I would not usually consider dividend capture strategies, as I tend to try and pick a stock to hold and would consider myself an investor not a trader, I havea puzzle I need help to solve despite checking online.
The last couple of years I have maxed out my ISA and the wifes ISA so started a BED account.
I need to start thinking about the next tax year and how best to move stock into the BED account for 2022 and beyond.
I will of course keep an eye on tax implications as I go to minimize losses.
One strategy I am considering is selling after the dividend is declared and on the lead into the ex-dividend date from the BED account, transferring funds into the ISA and buying back the stock post ex-dividend date. I am just not sure how the timing works and if it would be effective.
The problem I have is the time delay, by the time I have sold in the BED, transferred funds to my bank account and moved them into my ISA I am looking at 4 or 5 days and while this delay could work in my favor, my luck suggests it is more likly to work against me.
All things being equal I am transferring the stocks likly to cause the biggest tax liabilities first.
Has anyone done this or can offer any advice or pitfalls to watch out for.
I appreciate that its just advice and any adverse outcome is my responsibility, but it may give me things to consider that I hadn't thought of.
Thanks in advance for anyone who can find the time to reply.