RE: Red Braces Brigade15 Feb 2021 17:55
Hi S & V
The cost computations are a pain. Due to new average cost being worked out after every purchase, you cannot match real cost with sale. This is not a problem with ISa or SIPP as no need to declare on tax return.
If you have to do CGT calc for Self-Assessment then you need to use "new average cost" each time. Average cost does not chnage when you sell, it is only when you make further purchase.
I keep my own s/sht of cost recording my actual batch costs, so when I sell I match with my own cost and not the system average.
I have higher costs ongoing with my p/f than is recorded on my pension.
It is important otherwise you do not your overall p&l, which is the whole point of tradinf investing.
Once a sale goes through, the profit or loss is not recorded on my pension system, so you are left with a p/l based on the renewed averages. Would not matter if you leave all proceeds in the account but if you withdraw or add funds then obvoiusly makes a difference.
I am so sad I still have my own trading history from my previous SIPP which ran from May 2007 to March 2018.
It is handy when checking old share price purchase and sales transactions, as I have patterns with GSK and CEY that I have followed for years.
I did keep a massive s/sht when I was spreadbetting and trading CFDs from 2004-2007, but decided they could be consigned to Dusty Bin (after much grief on my part LOL)
All of a bit of busman's holiday for me. Mrs CSDI has already prepared my epitaph entitled "My life in Folders" by CSDI.
The main use for my aorak systems is my chess research, where I have a record (and index) if every game I have played since September 1991. Opponents are usually horrified when we play as I tell them - we have not played since 13th March 2004 and I currently lead 3-2. Mind you a certain player goes one better than me and tells me about a game we played in 1977 with great relish (as he won) as all my old records got destroyed in a house fire in 1985 ! (If you have seen the Queens Gambit, you may understand some of the autistic behaviour of certain chess players . My best claim to chess fame is a draw with GM Nigel Short, but he was only about 10 or 11 when I drew with him).
oops I have digressed again ... better go and put the oven on
Trust everyone had a super day - some lovely risers today (except GGP of course) esp if you had ARB - which I don't {naturally] !
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