Member Info for johnson36

Opium. lol. No I am not him

QueenElvis

I don't and never had had a supermarket delivery. It is not something that interests me. My Aldi is around the corner from my house.
Ok I said supermarket delivery was free, it is not quite free, but a quick look on Asda I see they sell a mid week pass for £24 for 12 months, so that is 50p per delivery if I get one every week on Tue/Wed/Thur. My point was: this is an online order, if the chancellor was going to increase the rate of tax on an online order then would they expect the supermarket to pay more tax on this £100 order that has been delivered for just 50p which obviously doesn't cover costs. I know the supermarkets are not doing well out of the deliveries which is why the smart people at Aldi are not offering delivery on food.

KNIGELK

Same as you I don't buy and food shopping online, My local Aldi is about 200 metres away, lol.

Regarding online. I buy amost everything else online, mostly small bits and bobs so I love to shop on Ebay. The thing is most people are going towards online. At the last NEXT companies results you can see on an RNS on this site you can see that NEXTs sales went like this... Shop sales 51%, online sales 49%. Their total profit is made up of: 31% from from retail shops and a massive 69% is from online. Those figures show you what is happening whether we like it or not. To get to those figures the Retail shop sales fell by 6.9% and the online sales increased by 16.8%

What do you think the chancellor could do with taxation regarding high street vs online ? everything that is available in a shop is available online. I can go to Tescos shop and spend £100 on a mix of food and none food items or I could go online and have the same items delivered free. Would expect the chancellor to make a rule that Tesco pay more tax on the online order or would you think he would make supermarkets exempt from the online tax rule. It is far too complicated and will never happen.
We have to accept that many people like to shop online and some business will succeed and some will fail if they dont move with the times.

I see the net assets figure of almost 500 million but what is this made up of as they lease shops don't they and they want to get rid 50. What do they own that is worth 500 million ? Current market capital is 110 million, Mike Ashley owns 29.7%, if this goes to administration he will walk away with this for 70 million of less and he won't have the 321 million debts

This is why Mike Ashley doesn't want to increase his share to above 30% and make a bid. I think he is waiting to buy it out of administration and walk away from the debt exactly the same as with house of fraser

£321.3 million debt

£300+ million

Dividend cover is over 1.5

Tom

yes. Just do a dummy run on your spread sheet as thought you did a buy and a sell last week and run it through the calculator.

ATB

I would not suggest something that was not working within HMRC rules.

In the situation i suggested their rule works in our favour but in a rising market it works against us.

If I buy 1000 shares at 200p and then buy 1000 of the sale shares at 100p. The next day the shares shoot upto 180p and I want to sell 1000 shares. I can't decide that I am selling the 1000 that I bought at 200p and show a loss of 20p. What I am selling is 1000 shares that cost me average150p..... Even the day after I bought some at 100p the tax man doesn't say it is those that I sold to make an 80p profit, they play it fair and say I have sold 1000 shares from my section 104 holding that have cost me 150p.
At the second purchase of the same company share it becomes a 104 holding, the only rule that changes this is if you sell those shares or some of those shares the same day. Once you get into the 2nd day it is a section 104 average sp holding and there is no minimum time limit before you can sell and show losses. If it getting near tax year end and you are showing a capital gain which you will pay tax on then this is the way to get that bill down. It works

Tom

Did you read the way that I have done this in the past to reduce my tax. All within the rules ( same day / 30 day / section 104 ) ?

You buy a few more shares that become part of your section 104 average holding, reducing the average sp slightly, and then you sell those 1 or 2 days later. You are then left with the original amount of shares after selling the same amount as your last purchase.

Without even doing this you can test in it the CGT calculator by just temporarily adding a buy transaction and a sell transaction with a couple of days apart and then pasting it into the calculator. I 100% guarantee it shows a loss and only costs you a couple of fees and stamp duty.

WiganWarriors

I don't know why you are getting confused over this. My plan does not fall foul to option 2. It clearly says on HMRC page " shares aquired in the 30 days following a disposal "

The CGT calculator is programmed to calculate correctly working within the rules.

My idea comes under section 104 Holding.

I will explain it a different way.

I buy 2000 shares in company X on the 1st of each month the 1st month I pay 200p a share, next month 190p, each month I buy on the 1st they are 10p cheaper, 180, 170, 160, 150, 140, 130, 120, and on the 10th month they are 110p and that is the last month I buy. I now have 20,000 shares and the average price in my section 104 holding is 155p. Now why do you think that a sale now of 2000 shares does not come from my section 104 holding of 155p per share ?. I know it does because that is what the CGT calculator is programmed to do. No one is getting cheated, certainly not the tax man.

I have bought my current holding of TW over 8 seperate buys, that is a section 104 holding, there is no minimum time that I can sell from my 104 holding and have it counted as such other than the same day rule. Do you think you have to wait 30 days to sell from a section 104 average holding ? no such rule. My way is nothing like or nothing to do with the "bed and breakfast" which was banned for showing losses.

From HMRC website:

How to identify the shares disposed of

When you dispose of shares you cannot work out your capital gain or loss until you have matched the shares disposed of with shares you acquired. You are treated as disposing of shares in the following order:

First Shares acquired on the same day as the disposal (the �same day� rule).

Second Shares acquired in the 30 days following the day of disposal (the �bed and breakfasting� rule) provided the person making the disposal was resident in the United Kingdom at the time of the acquisition if the relevant acquisition was on or after 22 March 2007.

Third Shares in the Section 104 holding.

The 30 day rule is only about repurchasing the same share within 30 days of selling it. Nothing else.

All my buys and sells are entered into a spreadsheet which goes back to 2012 and I copy and paste the whole thing into the calculator each year to calculate tax. I can assure you this is within the rules.

http://www.cgtcalculator.com/calculator.aspx

You can test what I have said below in this CGT calculator. I have just done it myself by entering some deals into my spread sheet and running them through the calculator, it works 100%

Wiggan and Tom

I know about the 30 day rule which i why I was asking what your suggestion was getting at. The 30 day rule came in in 1998.

It would be a hell of a risk for Tom to sell at what seems like a huge loss with the hope to by back after 30 days at the same or a cheaper price. Lots can happen in one month.

The way he could do it is to buy more, say 20,000 shares at £1.63, they would become part of his section 104 holding. His holding of 150,000 shares at a £1.95 average = £292,500, now add 20,000 shares at £1.63 (£32600) = £325100, Now dived by 170,000 = a new section 104 holding average of £1.91 per share. Next day (not same day) sell 20,000 shares, at £1.63. Loss shown all within the rules. You could do this for a larger amount. It is an istant gain as far as tax is concerned. You wouldn't be able to repeat the proccess for 30 days otherwise it will spoil the saving.

WiganWarriors

How can Tom book those looses ?

wrong board,

WiganWarriors

How can Tom book those looses ?