Tax and Shorts.29 Aug 2020 12:33
Morning all.
I love this helpful board, and believe it to be a great community. Especially now indepthtwins seems to have disappeared.
I regularly read, and very occasionally post. I am a lucky and fortunate individual to hold 80,000 shares at 37.25p.
2 aspects, if i may.
Tax: Yes, some of us could get caught up in the tax net. A nice problem to have, since if you pay tax you've made money.
I would heavily caution taking advice from here though, no matter how well intended we all are. And, i know many are very well intended.
Tax, is completely dependent upon one's own personal situation and circumstances. It isn't a one rule fits all scenario.
There are many totally legitimate ways to avoid (not evade) tax.
If, anyone on here, is in the pleasant position of being faced with a gain that pulls then potentially into the tax net, go and seek professional advice. If you are making that much profit, it is worth spending £200 to get the best and highly personal tax advice. It will pay for itself.
Not wishing to be a damp squib, just trying to be helpful. I've seen folks have sleepless nights and become unhinged with well intended but not quite entirely correct advice.
2. Shorts. How long do you get to borrow the stock for, if you are shorting it?
GLA.