Investments not in an ISA

DennisTenus

bowlhead99 said:

DennisTenus said:

I'm kicking myself that I didn't just invest in a non ISA account (because I'd used my ISA allowance up) when there was the correction earlier on this year. I didn't realise/forgot about my CGT allowance.

Well, whether there is a CGT allowance or not, it's nicer to make a nice gain and pay 10-20% tax on it than not to make the gain and 'avoid tax' 

There is other reasons I had to avoid it as well which I can't go into on here. Lets just say it would be considered for other payments I would have to make.

Let's say I'd almost made a gain of £13K from shares/investments. Is there anything stopping me selling before the end of the tax year then using the whole amount to buy the same shares/investments straight away (yes I know they may have gone up or down a bit)? 

eskbanker

DennisTenus said:

Let's say I'd almost made a gain of £13K from shares/investments. Is there anything stopping me selling before the end of the tax year then using the whole amount to buy the same shares/investments straight away (yes I know they may have gone up or down a bit)? 

The 30-day rule comes into play, whereby if you repurchase the same investments within 30 days of selling, the sale isn't regarded as a disposal for CGT purposes....

masonic

You could sell your investments and reinvest in very similar ones straight away.

DennisTenus

Ok thanks both thats interesting. Trying to find out about the 30 day rule, is it on here somewhere? https://www.gov.uk/capital-gains-tax

masonic

DennisTenus said:

Ok thanks both thats interesting. Trying to find out about the 30 day rule, is it on here somewhere? https://www.gov.uk/capital-gains-tax

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg51560