Thanks jpd, that's what I was hoping.
One or two other queries related to the 8 year settling tax, so lets say we leave the rest for the remainder of the 8 years.
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Hypothetically, the price on the day of the 8th anniversary in February 2027 is €400
- So the total valuation of remaining 13 (already sold two from the example above) from Feb 2019 would be: €5,200
Question: Do I calculate the tax to be paid based on the price on the day of the 8th anniversary?
Which would be:
- Initial cost for 13 @ €237 is €3,081
- Anniversary price minus the initial cost: €5,200 - €3,081 = €2,119 profit, taxed @ 41% = €868.79 tax owed
The second question(s) I have relates to leaving the investment untouched. I understand I don't need to actually sell the position to pay this, so lets say I leave it as be, and pay the €868.79 tax owed out of my pocket.
Question: If I leave these 13 shares from February for 8 more years, do I use the €400 as the initial price when calculating tax moving forward on the next 8th anniversary (in February 2035)?
Question: Or if I sell some of my position, lets say 10 years after the initial investment (2 years after paying the tax due from the 8th anniversary), do I use the €400 price from the anniversary tax as my base for calculating the tax similar to the first example in my original post?
Thanks for any help and guidance, it is greatly appreciated!