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How do you Calculate Capital Gains Tax on a Share Portfolio?
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Do you have to remember the price you paid of each "slice" of shares?YesYou do a section 104 calculation. (i will let you google that)
Then, if you sell any shares, which "slices" are you deemed to have sold?Can you rely on share trading platforms such as Interactive Investor to record how much you paid for each purchase?The better ones will but not all of them. CGT reporting should be part of your research when picking a platform, should you be using a GIA.What can you do if you've no idea how much you originally paid for your shares?If you are holding VLS100, you must be using an investment platform. So, the platform will have the contract notes and record of your purchases.
Any reason you are not using a tax wrapper?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Thanks to everybody so far. Several people have suggested ISAs. I do have Stocks & Shares ISAs, and I am annually transferring the maximum amount to it.0
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