RE: CGT Software Reconnections8 Oct 2020 14:27
If I might make a suggestion here, I was faced with this problem sometime back when taper relief of shares ended in 2008, and all your accrued shares were instead all added to the same pot.
What is taper relief capital gains tax?
A Capital Gains Tax (CGT) relief that offered a gradual reduction in the amount of CGT due, the longer the assets are held. This was removed in 2008.
In 2014 I decided to sell my BT shares that I had held since 1985.
So now I had to go back through all my paper share certificates dating back to 1985 to work out what I had paid for them and when, I had a company share save which added more shares every 5 years to the pot, going back 29 years and for many share purchases over that time, it was going to be a nightmare, as you have to show the calculations as you go on the HMRC form SA108.
I found a share dealing company called "Time to Trade" and joined, this company provides you with the tools to produce your own printed out SA108 (Capital Gains Form) to add/upload to your HMRC Tax return.
If you have ever thought how if you have had share consolidations/splits and how you can show to HMRC how you now have more shares than you have ever paid for or less then this is fantastic.
This is not free and comes at a cost, once you have joined you start by inputting the date of buy/sell, cost, dealing cost, tax paid, net proceeds, etc, you can do anything with practice, and just keep on going, entering each and every buy/sell.
When you wish to produce your fully-fledged HMRC SA108 form with all the calculations shown you just put in the tax year and off you go, my printed 2014 SA108 ran to 30 A4 pages!
If you input any share sale losses the computation takes care of that as well, brilliant in my mind.
This is just to show what is out there but is not free but does keep all your buys/sells from your share dealing account easy to manage.
Link to company:- https://timetotrade.com/
Your choice but in my mind a lifesaver.
Good luck
Ian
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