SomeQuestions
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I have some questions about completing CG1 specifically for disposals of shares acquired as RSUs.
Given vested RSUs don't have an associated acquisition cost, the cost basis is worked out by number of vested shares multiplied by market price at a particular time on the vest date, therefore is it correct to assume section 4 about substituting market rate for acquisition cost should be ticked?
For RSUs that were disposed of on the same day they were acquired, the vest price and sale price will differ slightly. Obviously a realised gain is chargeable but a realised loss is an unallowable loss given it occurred within 28 days of acquisition and assuming shares of the same class were not reacquired in 28 days etc. How are unallowable losses correctly reported on CG1? Obviously the disposal associated with an unallowable loss will be reported in section 1 but does the actual loss get reported anywhere else or is that just allowable losses? For example, in section 8 where we declare "losses" should this be all losses or just allowable ones?
Thanks!
Given vested RSUs don't have an associated acquisition cost, the cost basis is worked out by number of vested shares multiplied by market price at a particular time on the vest date, therefore is it correct to assume section 4 about substituting market rate for acquisition cost should be ticked?
For RSUs that were disposed of on the same day they were acquired, the vest price and sale price will differ slightly. Obviously a realised gain is chargeable but a realised loss is an unallowable loss given it occurred within 28 days of acquisition and assuming shares of the same class were not reacquired in 28 days etc. How are unallowable losses correctly reported on CG1? Obviously the disposal associated with an unallowable loss will be reported in section 1 but does the actual loss get reported anywhere else or is that just allowable losses? For example, in section 8 where we declare "losses" should this be all losses or just allowable ones?
Thanks!