We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Investments not in an ISA
Comments
-
There is other reasons I had to avoid it as well which I can't go into on here. Lets just say it would be considered for other payments I would have to make.bowlhead99 said:
Well, whether there is a CGT allowance or not, it's nicer to make a nice gain and pay 10-20% tax on it than not to make the gain and 'avoid tax'DennisTenus said:I'm kicking myself that I didn't just invest in a non ISA account (because I'd used my ISA allowance up) when there was the correction earlier on this year. I didn't realise/forgot about my CGT allowance.
Let's say I'd almost made a gain of £13K from shares/investments. Is there anything stopping me selling before the end of the tax year then using the whole amount to buy the same shares/investments straight away (yes I know they may have gone up or down a bit)?
0 -
The 30-day rule comes into play, whereby if you repurchase the same investments within 30 days of selling, the sale isn't regarded as a disposal for CGT purposes....DennisTenus said:Let's say I'd almost made a gain of £13K from shares/investments. Is there anything stopping me selling before the end of the tax year then using the whole amount to buy the same shares/investments straight away (yes I know they may have gone up or down a bit)?0 -
You could sell your investments and reinvest in very similar ones straight away.
0 -
Ok thanks both thats interesting. Trying to find out about the 30 day rule, is it on here somewhere? https://www.gov.uk/capital-gains-tax0
-
https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg51560DennisTenus said:Ok thanks both thats interesting. Trying to find out about the 30 day rule, is it on here somewhere? https://www.gov.uk/capital-gains-tax
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards