CGT

joebob

Can you offset your monthly fees against your CGT gains 

ColdIron

You can offset trading costs (transaction fees, stamp duty etc) against gains but not recurring fees unassociated with the trade

joebob

We have a joint ii trading account.  Am I correct in thinking that CGT allowance will be 6k  ?

eskbanker

joebob said:

We have a joint ii trading account.  Am I correct in thinking that CGT allowance will be 6k  ?

It'll be £3K each, rather than being aggregated as such.

joebob

eskbanker said:

joebob said:

We have a joint ii trading account.  Am I correct in thinking that CGT allowance will be 6k  ?

It'll be £3K each, rather than being aggregated as such.

So come the end of tax year and we have made 4k profit which will be 2k each we do not have to declare to HMRC

eskbanker

joebob said:

eskbanker said:

joebob said:

We have a joint ii trading account.  Am I correct in thinking that CGT allowance will be 6k  ?

It'll be £3K each, rather than being aggregated as such.

So come the end of tax year and we have made 4k profit which will be 2k each we do not have to declare to HMRC

Yes, that's right.

joebob

Thanks for your comments 

Beddie

joebob said:

eskbanker said:

joebob said:

We have a joint ii trading account.  Am I correct in thinking that CGT allowance will be 6k  ?

It'll be £3K each, rather than being aggregated as such.

So come the end of tax year and we have made 4k profit which will be 2k each we do not have to declare to HMRC

Just to be clear, you only have potential CGT if you sell and make a gain.

If your investments go up by £4k that's great, but it only counts the year you sell. Therefore some people sell each year up to the CGT limit and put it in an ISA or buy something similar.

I guess you probably already knew that, but I mentioned it just in case!