Best execution only share dealing service, no inactivity/quarterly fees? (iweb / XO?)

grey_gym_sock

Onedrew wrote: »

Sorry, I bolloxed the original sums:
1 share bought at £15 av cost £15
1 share bought at £10, av cost £12.50
1 share sold at £20, av cost £5 (not £7.50)

well, that's a consistent way of looking at it, albeit not the usual 1, and not relevant for CGT calculations, and noting that it can give you a negative average cost.

Onedrew wrote: »

For CGT I add together all the sell contracts in each share for the year and deduct the total of the buy contracts for those shares.

hmmm, that may or may not be correct, depending on what you mean. if you've sold all of your holding in a certain share within the same tax year, and didn't sell any of it in earlier tax years, then it will definitely be correct.

but if you only sell part of the holding in 1 tax year, then the cost for those shares isn't usually decided by picking the corresponding buy contract, because there is no corresponding buy contract. you have a pool of indistinguishable shares, and the cost when you sell only some of them is based on the average cost, which is calculated in basically the way iweb do it (except that apparently - according to TCA in http://forums.moneysavingexpert.com/showpost.php?p=69100969&postcount=27 - iweb sometimes fail to include the stamp duty and dealing charges, and they should always be included).

actually, it can be a bit more complicated than that, if you buy some of a share either (a) on the same day that you sell some of it, or (b) within the following 30 days after you sold some of it. in those cases, there is some matching with specific purchase contract notes. i can go into more detail on this if necesary ...

Onedrew

Thanks grey gym sock I'm sorted for bed n breakfast