Tax on shares

whatyadoinsucka

two questions, hows a student got £10k and are you dealing in equities (shares) or Derivatives ie spread betting / CFDs (as these are tax free anway)

have you got shares in mobile tornado group or UMC energy, and how did you spot these, why did you buy these !!

Mikeyorks

Robster88 wrote: »

but yes it would be worth keeping them long enough to sell them over a couple of years IF they do take me over the limit, or I could cut and run now.

As we're closing in on April now ......... you can sell enough this side of 5/4 to protect your investment / realise all or part of the CGT allowance. And then either take your time or sell the remainder into next year's allowance (assuming Osborne doesn't abolish it in March!) after 5/4.

Mikeyorks

xrjtg wrote: »

HMRC agrees (provided the total sales are under £40400).

Perversely you only need to report sales of > £40400 if you're having to fill in an SA Return for other reasons.

If you don't normally complete an SA Return and have no reportable CGT gains ....... you don't need a Return just because total disposal proceeds exceed 4 x the CGT allowance.

Robster88

whatyadoinsucka wrote: »

two questions, hows a student got £10k and are you dealing in equities (shares) or Derivatives ie spread betting / CFDs (as these are tax free anway)

have you got shares in mobile tornado group or UMC energy, and how did you spot these, why did you buy these !!

As regards to how a student can have £10,000 to invest - I took a gap year before I started University in which I worked for 10 months, and use my rather limited drawing skills to make money here and there when I can. I have always generally preferred saving than spending - it has all my earned by myself, I haven't received any handouts, so certainly don't feel blas! about risking money.

And yes I am just dealing in standard shares.. it's probably just gonna be a one off things, don't wanna try my luck again.

alanq

As you are dealing in "standard shares" the gains seem to be exceptional. Sorry for asking - but you did say that you are "new to all this" - there hasn't been a consolidation of shares has there? (whereby, for example, each of your shares would be worth twice as much as you paid but you would find that you now have only half the number of shares that you originally bought with no change in total value).

Robster88

alanq wrote: »

As you are dealing in "standard shares" the gains seem to be exceptional. Sorry for asking - but you did say that you are "new to all this" - there hasn't been a consolidation of shares has there? (whereby, for example, each of your shares would be worth twice as much as you paid but you would find that you now have only half the number of shares that you originally bought with no change in total value).

Thanks I appreciate you asking, but no there has not been a consolidation of shares - I own the same number as I originally bought

DavidHayton

Robster88 wrote: »

Thanks I appreciate you asking, but no there has not been a consolidation of shares - I own the same number as I originally bought

Hmm ... I am intrigued. Which stock was it that you bought that then doubled within a week? And what persuaded you to risk £10k of your capital on a single stock? David

whatyadoinsucka

its most definately a tip, or beginners luck, looking at the months biggest winners, they are all unknown companies to the average joe in the street

Name Change %_Change Close_Price Current_Price Change_Today
Crosby Asset Management Inc 3.68 262.86% 5.08 5.00 -0.08
Davenham Group [1] 3.25 216.67% 4.75 4.75 0.00
Quadrise Fuels International 4.00 168.63% 6.38 6.25 -0.12
Namibian Resources 3.53 150.21% 5.88 5.88 0.01
Mobile Tornado Grp 6.00 150.00% 10.00 10.50 0.38
Hawtin 1.00 133.33% 1.75 0.00 0.00
@uk Plc 5.62 115.38% 10.50 10.25 -0.38
Viridas Plc 2.00 114.29% 3.75 3.75 0.00
Horizonte Minerals 16.50 113.79% 31.00 30.25 -0.75

Robster88

DavidHayton wrote: »

Hmm ... I am intrigued. Which stock was it that you bought that then doubled within a week? And what persuaded you to risk £10k of your capital on a single stock? David

MBT Group - I just read something about them announcing a deal which will provide Push to Talk services to South Africa. Seemed like it was worth the risk for a high return, and I thought I could treat it as a long term investment if the prices did drop, as they were at an almost historically low value and so barring becoming worthless they would probably gradually increase over the next few years.

Mikeyorks

Brave choice - with that level of spend.

In your shoes I would be selling enough to recover at least my outlay. Then holding the rest against the crystal ball.