Capital Gains Tax - Shares HELP

Hi All,

new here but hopefully someone can help with my question.

i have brought various amount of shares over the years in the same stock and currently hold a total of 30000 shares which every year i bed and ISA enough to meet my capital gains threshold.

However this year i made an error and sold the shares when i was only requesting a quote, upon realizing my mistake i bought the same stock back minutes later for a small loss. the details are below.

Sold - 3330 units
Book cost £4,796.50
Price 4.37
Proceeds after costs £14,405.49

Bought - 3299 units
Book cost £14,447.14
Price 4.38

can someone please explain the implications on firstly

my capital gains allowance - Have i used up a proportion of it by the sale? or does the buy the same day in the same stock roll it back to a small loss?

secondly implications on my Section 104 holding? previously all my shares were rolled up into one holding as they were all for one stock at different times over many years, does the same day sell and buy effect this, if so how?

Thanks

Marv

Comments

  • MichelleUK
    MichelleUK Posts: 427 Forumite
    First Post First Anniversary
    Marv_88 wrote: »
    Hi All,

    new here but hopefully someone can help with my question.

    i have brought various amount of shares over the years in the same stock and currently hold a total of 30000 shares which every year i bed and ISA enough to meet my capital gains threshold.

    However this year i made an error and sold the shares when i was only requesting a quote, upon realizing my mistake i bought the same stock back minutes later for a small loss. the details are below.

    Sold - 3330 units
    Book cost £4,796.50
    Price 4.37
    Proceeds after costs £14,405.49

    Bought - 3299 units
    Book cost £14,447.14
    Price 4.38

    can someone please explain the implications on firstly

    my capital gains allowance - Have i used up a proportion of it by the sale? or does the buy the same day in the same stock roll it back to a small loss?

    secondly implications on my Section 104 holding? previously all my shares were rolled up into one holding as they were all for one stock at different times over many years, does the same day sell and buy effect this, if so how?

    Thanks

    Marv

    Some bedtime reading for you:

    https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg51550p

    https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg13370
  • Thanks. I think I can see that it means that they are no longer considered part of my 104 holding so assume they have their own value.

    However I am still unclear about the capital gains allowance
  • Edit. The second link seems to clarify that they are not part of any allowance but need to be dealt seperartly from the 104 shares. Thanks
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