Self Assessment return - date of acquisition of shares

Heedtheadvice

I would be very please to get advice on a simple CGT question - if there is such a thing!


I have for the first time a need to report a capital gain using the section 104 Holding rules and have found HMRC helpsheet 284 good to calculate the gain/loss (shares held after March82). However I have found no information regarding date of acquisition that needs to be entered. Where shares have been purchased on several different dates how do I enter a single purchase date on the return?

purdyoaten

If, for example, you made the purchases in five tranches and have sold the lot, simply do five separate calculations. I have assumed that you have one disposal

Heedtheadvice

Thanks for that idea Purdy.

I can see that is a possibility. In my case there are several such purchases owing to reinvestment of dividends and thus it becomes unwieldy for say 20 years of dividends as an example, hence surely the ability to do the 104 averaging calculations and to follow hmrc rules in the case where not all shares are sold.
Not that complicated in my case but the answer would still be useful.

purdyoaten

https://forums.moneysavingexpert.com/discussion/5148657

I presumed that you held shares in one company - see above

Heedtheadvice

Purdy you presume correctly. That link is useful as being of the same subject that I had not seen.(wonder if they can be merged?).

So a similar cgt calculation...but for a single entry we still need to enter a single 'date of purchase' for such a section 104 holding. Without multiple entries I see no way of doing that. Surely this cannot be a new issue?

Will add a post on the link you gave me.

chrismac1

I've looked in my CGT manual and in the HMRC guidance and can see no specific information regarding the date to use. In my view the logical thing is to use the first date of purchase of a share in the Section 104 pool. I'm not sure how crucial the date is, it's the pooling calculations which really matter.

Heedtheadvice

You are spot on Chrismac1.

I managed to speak to HMRC this morning and an advisor (nice lady called Debra) told me the date is not really important for a section 104 holding entry and just to use the earliest date of share purchase.
Thanks for the help