Shares and Tax

Biggles

It's very unlikely you'll trigger CGT, if your £3k did increase by 300%, that would only give you a capital gain of £9k, which is within your allowance of £10.1k. BTW, it's not what you withdraw to your bank, it the gain made on selling that counts.

If the share went mad, and your gain did look like being over your allowance, you could consider selling the bulk of the shares in one tax year and the remainder in the next.

Biggles

CashStrappedTeen89 wrote: »

if it is possible to use my whole £10k or ISA allowance when withdrawing shares?

The answer to that would be 'No', anyway. You have to buy the shares inside an ISA, you can't 'use an ISA' retrospectively when selling. In your case, you'd have to sell the shares, open an ISA, and buy the shares afresh within it.

But you will, in any event, use your £10.1k allowance when selling shres, as mentioned in my previous post.

blinko

well if you like XEL

have a look at
ARG, GCM, RKH, DES, SOLG, SXX, GKP

CashStrappedTeen89

Biggles wrote: »

It's very unlikely you'll trigger CGT, if your £3k did increase by 300%, that would only give you a capital gain of £9k, which is within your allowance of £10.1k. BTW, it's not what you withdraw to your bank, it the gain made on selling that counts.

If the share went mad, and your gain did look like being over your allowance, you could consider selling the bulk of the shares in one tax year and the remainder in the next.

Thanks Biggles, Very useful.

Biggles wrote: »

The answer to that would be 'No', anyway. You have to buy the shares inside an ISA, you can't 'use an ISA' retrospectively when selling. In your case, you'd have to sell the shares, open an ISA, and buy the shares afresh within it.

But you will, in any event, use your £10.1k allowance when selling shres, as mentioned in my previous post.

So i would essentially only have half my allowance to use as i would have the stocks already bought in my iii account would there be any way to transfer them over to a Stocks Isa or would i just be stuck once the cash isa is full?.

blinko wrote: »

well if you like XEL

have a look at
ARG, GCM, RKH, DES, SOLG, SXX, GKP

Thanks, ive been looking at DES, GKP and SXX, but funds havent allowed me to invest, ive gone with XEL just because i think out of all the potential this company has is really good, i may top slice in the coming weeks and invest. ..

Biggles

CashStrappedTeen89 wrote: »

So i would essentially only have half my allowance to use as i would have the stocks already bought in my iii account would there be any way to transfer them over to a Stocks Isa or would i just be stuck once the cash isa is full?

You can't transfer shares into an ISA, you can only transfer cash into it, with which you can then buy shares.

CashStrappedTeen89

.Ah i see.. so i could sell sell what shares i have and then put it into the S ISA and invest further.

LongTermLurker

CashStrappedTeen89 wrote: »

.Ah i see.. so i could sell sell what shares i have and then put it into the S ISA and invest further.

Yes, but in selling your shares you would be building up your CGT liability.

Biggles made a good point that's worth expanding on if it's not obvious - CGT kicks in at £10,100 gain not final value. So if you bought them for £3000, they could grow to £13,100 before triggering liability.

CashStrappedTeen89

LongTermLurker wrote: »

Yes, but in selling your shares you would be building up your CGT liability.

Biggles made a good point that's worth expanding on if it's not obvious - CGT kicks in at £10,100 gain not final value. So if you bought them for £3000, they could grow to £13,100 before triggering liability.

Thanks for the info guys, just need to watch the stocks now and see if it fails miserably (always a chance) or go off with a bang

Jackop

ALso one thing to note is that you cannt put AIM listed shares in an ISA (to my knowledge).

Im sat in SXX at the mo, funny how we went in different directions i did my research and decided they were for me instead of XEL. Thought i had missed the boat on it tbh, and i still do.

Reaper

101 wrote: »

I have heard that Northacre (NTA) shares are going to increase A LOT in the very near future.

Statements like that without providing anything at all in the way of backing just sound like ramping to me. Unless you want to elaborate?