RE: capital gains tax16 Feb 2021 21:49
@DaveC55, As far as I understand it, once you dispose of an asset it comes under CGT ( outside of an ISA tax wrapper). Yes there are reductions for initial cost of asset and fees, and an allowance from the previous 7? years of declared losses against current year profits. And some allowance if you inherited the asset.
If you take the cash out of the trading fund, or re-invest ( in more shares etc. ) then you have still disposed of an asset and if you made a profit, CGT kicks in .
Any one know better, as I re-invest my share investment / trading profits in more shares rather than taking cash, so am I paying CGT in error?
Thanks
V