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CGT and the budget
Comments
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Sorry, one final thing. If the rate changes the day of the budget like previously, would it be better to realise the gains ahead of the budget (a known rate) and the keep the losses unit after the budget
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You could take that precaution.
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As I said on page 1 (https://forums.moneysavingexpert.com/discussion/comment/82144238/#Comment_82144238) , last time, we were allowed to use losses incurred at any time of the year to offset gains incurred during the higher rate. An example of what I mean:
May 2024: gain of £5,000 on share A
June 2024: loss of £4,000 on share B
Oct 2024: CGT basic rate changed from 10% to 18%
Nov 2024: gain of £7,000 on share C
The £3k CG allowance, and the £4k loss, are set against the Nov £7k gain, so there is no tax to pay for the post-Budget period. The £5k May gain attracts 10% tax, ie £500.
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