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CGT on shares: Is this plan ok?
soulsaver
Posts: 6,741 Forumite
in Cutting tax
I wish to avoid paying CGT on share gains where legally possible.
I'm maxed on 2010/11 ISA already, but have some gains on unsheltered shares.
Once I've calculated what my potential gains are for 2010/I1 I plan to cristallise gains less carried forward losses (if I get the claim in in time) to use the max allowance, avoid carrying gains forward to next tax year by selling £10680 worth of the unsheltered shares on April 5th (this tax year) and buying them back April 6/7th inside my ISA- thereby sheltering the gain portion of the £10680.
Is this ok?
Does this avoid the 30day rule?
I have looked on HMRC but cant find owt on it.
Help much appreciated.
I'm maxed on 2010/11 ISA already, but have some gains on unsheltered shares.
Once I've calculated what my potential gains are for 2010/I1 I plan to cristallise gains less carried forward losses (if I get the claim in in time) to use the max allowance, avoid carrying gains forward to next tax year by selling £10680 worth of the unsheltered shares on April 5th (this tax year) and buying them back April 6/7th inside my ISA- thereby sheltering the gain portion of the £10680.
Is this ok?
Does this avoid the 30day rule?
I have looked on HMRC but cant find owt on it.
Help much appreciated.
0
Comments
-
there's no 30 day rule if you sell unsheltered shares and then buy them back in your ISA0
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