RE: CGT4 Dec 2020 11:45
Whilst I have not been following all of this thread I will add some comment. PLEASE IGNORE if CGT is not a consideration for you. I have gained the impression that some people might see it as an all or nothing situation. Lets say you are sitting on a gain of £100,000. You should sell some of this gain and buy the shares within your ISA if you have not invested your £20,000 into your ISA, and have not used your CGT allowance of £12,300. But you could also be well advised to crystalise a gain of more than £12,300 say to get your £20,000 to invest in your ISA. Yes it means you have some tax to pay in due course. However say the EUA sale goes through after 5 April 2021 by using your CGT allowance now, you have another one in '21/'22 tax year( assuming the Chancellor does not remove/reduce it to claw back some much needed monies). Also in the new tax year there is a good chance that tax rates will increase impacting capital gains. I'm old enough to remember top tax rates on earned income of 83%, and 98% on investment income i.e. 83% plus 15% investment income surcharge. I only pay 20% tax on any income today, but not long ago the basic tax rate was 33%. There is a good case to make your gains now to pay tax at todays rates as you don't know what horrors are around the corner. I am a retired financial planner, not qualified to give advice NOW but I'm trying to encourage you to get advice if your gains warrant it. This will hopefully open peoples eyes but please do no shoot the messenger as I'm only trying to make people think, maybe make a little more profit, while we wait on our shared good news. Hugs all round. JJ
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