Selling shares
#1
Selling shares
I’m wanting to sell my shares soon but I don’t want to take the money out of my share account as I’m planning on leaving it there to buy again after a little dip. Am I liable to pay tax on my money? Or is it only when I withdraw it into my bank account?
#4
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iTrader: (1)
When you sell your shares you will be liable for capital gains tax (CGT) on any profit you've amassed over and above your £11,300 capital gains allowance for this tax year.
If you have already used up this year's allowance then wait until after 6th April and the new tax year which will give another £11,700 allowance.
Alternatively, if your profit will be more than £11,300, sell some shares in this tax year and sell the remainder after 6th April thereby taking advantage of the two lots of CGT allowance.
If you have already used up this year's allowance then wait until after 6th April and the new tax year which will give another £11,700 allowance.
Alternatively, if your profit will be more than £11,300, sell some shares in this tax year and sell the remainder after 6th April thereby taking advantage of the two lots of CGT allowance.
#5
So it makes no difference if I leave the money in my share account to reinvest, once I have sold past my limit I have to pay tax?
I have no interest to have the money I’m just selling to buy again on a dip.
I have no interest to have the money I’m just selling to buy again on a dip.
Last edited by stevebt; 02 March 2018 at 05:48 PM.
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30 March 2005 02:32 PM