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Can anyone confidently answer a capital gains tax question?
If you had £10k of FRR in a share ISA, then it delisted leading to the shares being thrown out of the ISA.
If FRR then went into administration, could you register a CGT loss of the £10k? Or would you not be able to claim any, as at the time I’d delisting you could say the shares were worth zero, so there is no loss.
I AM NOT SAYING THIS IS WHAT IS GOING TO HAPPEN! I’m just trying to look to balance potential losses against gains for this tax year.
In layman’s terms... WTF does all this mean?
Yes, the lovely GDXJ effect, makes me feel warm and fuzzy inside that the big boys are buying in heavy.
37p close of play I reckon, then small fall back Monday... UNLESS. sally results come out/come good, then who knows what they could Jump to...
Nice to hear from you bigmj,
I for one take comfort that you post here.
It’s a worrying time for us shareholders, with such ever moving goal posts.
We’d just like to see some light of the end of this tunnel.
Jerry,
I thought it was a good discussion on CGT positions.
It’s obvious that there are many out there who don’t know the full ins/outs of tax positions and therefore could be badly burned regarding tax positions on this share.
Best advice really was speak to a professional financial advisor, could save £££££’s
Tom
I intend to do exactly as you say in all your points.
Unfortunately I was dumb enough 4 years ago to open trading account rather than S&S ISA.
Fortunately I realised my mistake and have made use of ISA’s in both mine and my wife’s names.
What’s really spoilt things is the SVS disaster!
Thanks SAS
Annoying bit is it would have all been in my ISA already had SVS not gone bust, been a long year+ trying to get hold of my share holdings again, been an absolute nightmare!
On the plus side it removed any temptation to sell on the way up, as I could not even if I wanted to.
I hope to sell a chunk around 60p within the next 12 months, time will tell.
Yep, it’s simple to bed & isa
But....
Imagine I want to put the full annual max allowance of £20k in my ISA.
Then imagine I paid £1k for those shares, that means that’s £19k CGT gain.
£19k - £12.3k = £6.7k CGTaxable
Now imagine, if you have a bit more than that...
And then if you are fortunate enough to be a higher rate tax payer...
That’s not taking into account any CGT surprises the government may have for us going forward. Someone’s gonna have to pay for the COVID driven debt!
My 2nd 10 bagger+ This year!
Bonfire night approval too.
Let the fireworks begin!!!
Nice
What goes around, comes around...