Capital Gains Tax on Shares

Heedtheadvice

wmb194 said:

Heedtheadvice said:

and do not forget to factor in your calculations any costs that have been required to make this capital gains both ( buying, selling, keeping, stamp duty etc. ), and any previous years losses that you can carry forward. 

Do you not hold the assets in an ISA?

[ although this seems not to apply to you at the moment] if they are not stock and shares ( and similar assets that can be held in an ISA wrapper ) then are any of them except from CGT such as some specific types of personal assets and your main home.

If you do not know could be very worthwhile checking (or if non exempt pointless) for future financial management.

What do you mean by, "keeping"? The only allowable deductions need to directly relate to the purchase and sale so, for instance, ongoing stockbroker account fees are not allowable. Usually for financial securities this leaves dealing commission and stamp duty/FTT.

Thanks for pointing out that error. I was not thinking of Stocks and Shares and things like platform fees but things that are allowable expenses for other chargeable assets. 

To comment further is really outside the scope of this threads topic but any reader ought to be aware that CGT is not limited to S&S type of investments.

Uriziel

I would use this calculator. It will tell you exactly how much tax you have to pay on your gains.

https://www.hl.co.uk/tools/calculators/capital-gains-tax-calculator

Uriziel

You have mentioned "gross earning" in your post. Remember that you are not going to use gross in your calculation but the taxable amount which removes any pension deductions your work might make. It's work checking your payslip or P60 when making the calculations.