Key Post Capital Gains Tax on sale of shares

jodonova

New Member
Messages
9
Yes, you pay no CGT in 2015 and you carry no loss in 2016.


Just to check - if this is/was a trading operation to generate an income rather than a capital investment (given the number of trades) this may be viewed as income tax chargeable?
Thanks Rob - not quite sure what you mean by trading operation - I was just trading crypto as an individual, if that's what you mean?
 
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jacques28

New Member
Messages
1
I bought shares in a company just a couple of weeks ago and am now sitting on a loss . I'm wondering If you sell the shares after such a brief period are they still eligible to offset future capital gains?

I have only had them for the 2 weeks. I have read threads on this site about a 4 week rule regarding the disposal of shares which I found confusing.

I have no intention of buying the same stock in future and would sell all of them now and be done with it. Does anyone know if selling before 4 weeks would rule out capital loss offsetting?
 

jodonova

New Member
Messages
9
Trading is the key here. You weren't 'investing'. It falls under a different tax head; income tax rather than CGT.
You need to get a professional tax advisor to look at the specific facts of your case.
Thanks RedOnion.

Can anybody recommend any good crypto tax return software that revenue would accept, for example https://koinly.io/ or any good accountants? If accountants, how much should I expect to pay? I need to complete my Form 11 returns and document some losses for 2018/19.
 

boltownes

Registered User
Messages
48
Hi, I sold some shares yesterday and made a gain. I am due capital gains tax on sale but wonder can i sell loss making shares to offset the gain and if so, when is the deadline for doing so? Many thanks in advance.
 

Gordon Gekko

Frequent Poster
Messages
4,123
The tax for gains made during the period January to November inclusive is due by 15 December.

If you make a loss during the same period, or have losses carried forward from previous years or know you’ll make a loss in December, you don’t have to pay.
 

boltownes

Registered User
Messages
48
The tax for gains made during the period January to November inclusive is due by 15 December.

If you make a loss during the same period, or have losses carried forward from previous years or know you’ll make a loss in December, you don’t have to pay.
Thank you very much for this!
 

Felics

Registered User
Messages
1
Hi, Regarding the 4 week rule - it refers to a loss on disposal - am I correct in assuming that the gain or loss is calculated against the shares acquired within the 4 week (whether acquired before or after the sale)?
Many thanks for help on this.
 
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