We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Section 104 holding for CGT

Options
Hi there,

Quick section for calculating CGT due on funds (unit trust/oeic):

1) If you have a fund X in investment platform A, and that is a all your holding then CGT due using a section 104 holding (if reqd) is simple.
2) If you have a fund X in investment platform A and investment platform B, then when calculating the section 104 holding for CGT purposes do you go across the two platforms, or do you work on a platform by platform basis? I think you should go across platforms but I'm not sure what HMRC would expect. If you get a capital gains report from the platforms obviously its section 104 holding will be calculated on the units purchased on that platform alone as it will not know about holdings elsewhere.

Thanks for your answers,

Richard

Comments

  • ColdIron
    ColdIron Posts: 9,807 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    edited 22 December 2022 at 12:37PM
    You go across platforms, HMRC don't care where it's held
    If it was per platform people could manipulate their positions to misrepresent their true situation
  • ColdIron said:
    You go across platforms, HMRC don't care where it's held
    If it was per platform people could manipulate their positions to misrepresent their true situation
    Many thanks- that’s what I thought. Do you know if the platforms submit CGT reports to HMRC at the end of each tax year (as savings providers are meant to with interest)? I guess if they do what HMRC have logged as your CG compared to what it actually is (in the situation above) could be somewhat different.
  • ColdIron
    ColdIron Posts: 9,807 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    edited 22 December 2022 at 1:29PM
    Not to my knowledge, many wouldn't know your book cost anyway (transfers etc)
  • ColdIron said:
    Not to my knowledge, many wouldn't know your book cost anyway (transfers etc)
    Many thanks
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.6K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.