CGT on investment switch

malcb60

 I made an investment into a non ISA fund about 5 yeas ago.   A "blip" in the market caused it to lose value in the early days and so, after 2 years,  I moved the investment to another fund with a different company.  This has done much better and the value of my investment has now returned to pretty well the amount I originally invested in the first company.
My question is whether CGT is calculated on the value

• when i made the transfer, or
• when i made the original investment. 

if the former then I have made a markedly large capital gain - if the latter then there is no capital gain as the value of the investment is equal to the original investment.

The paperwork at the time is sparse but it would appear from what I have that the funds were transferred directly from the original company to the new one.

Thank you for any clarification.

mta999

When you made the transfer you made a capital loss

Luckily capital losses can be a carried forward indefinitely and offset against any future capital gains

poseidon1

OP see below. HMRC set an arbitrary 4 tax year limitation to let them know if you have investment losses to claim.

https://www.gov.uk/capital-gains-tax/losses#:~:text=Reporting losses,you disposed of the asset.

If you don't do a self assessment return apparently you can write to them. However, if I was you I would maintain my own spreadsheet of gains and losses as a belt and braces measure to ensure you don't lose sight of your running total.

Hopefully most of your investment activity takes place with a S &S Isa, to avoid this tax maintenance chore.

Albermarle

OP For info.
This forum is about issues related to houses.
Your sort of question would have been better posted here.
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