When is tax due?15 Feb 2022 19:20
Hi everyone, please can you help clarify exactly when tax is due on shares in my share account
I am aware of ISA tax free benefits, but am up to the limit there
I am aware of the limits, namely £12,300 for share profit and £2k for dividends received per tax year and that these limits apply to my whole portfolio
however, if:
1) I sell and reinvest my “excess” profit over £12,300 into another stock (or 2k+ divs), is it subject to tax?
2) I don’t sell and my share account exceeds £12,300 (2k+ divs) am I liable for tax?
3) I sell, but keep the £12,300+ (2k+ divs) in my share account, without withdrawing any funds, again, is it subject to tax?
I also believe that some AIM shares are not subject to tax, but as with main questions above, have searched the internet to no avail = easy to find the limits, not so to find when they apply
I have emailed Questor at the Telegraph and Investors Chronicle (who I subscribe to), to no avail
Sorry if this question seems obvious, but am sure that there are others like me out there, who don’t know and need to
After all, SBTX could well break the £12k threshold…..
Thanking you in anticipation