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capital gains tax when selling shares
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newname_3
Posts: 148 Forumite
Hi - I am a complete novice when it comes to shares. I bought some quite a few years ago for £150 which are now worth about £660 I think.
If I sold a portion - one third - to get £220 that would be a gain of £170 for that bit.
So is that eligible for CGT or not? If it is, how would it be paid? Would a chunk come off the as the transaction is going through or is a bill sent?
Hope you can help. Thanks.
If I sold a portion - one third - to get £220 that would be a gain of £170 for that bit.
So is that eligible for CGT or not? If it is, how would it be paid? Would a chunk come off the as the transaction is going through or is a bill sent?
Hope you can help. Thanks.
0
Comments
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It would go towards your CGT bill for the year, but you have more than a £9000 tax-free allowance, so unless you've been making a lot of other gains, you're probably not paying anything on this sale!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Thanks Aegis!0
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