UK capital gain tax
- Thread starter eurojack
- Start date
http://www.hmrc.gov.uk/cgt/
I do know accountants, but none are "cheap". Chances are you don't need one anyway, you can calculate CGT yourself, easy enough, use FIFO for multiple buy and sells of the same asset, do it on a spreadsheet.
I do know accountants, but none are "cheap". Chances are you don't need one anyway, you can calculate CGT yourself, easy enough, use FIFO for multiple buy and sells of the same asset, do it on a spreadsheet.
Sorry for the late reply to this thread, but only just found this excellent website.
UK CGT needs to be paid when you realise any profits. So it's not mark to market, but you can't defer it until you do withdrawals eithier.
Also a warning - you can't use simple FIFO to work out your CGT. The rules are a little more complex. If you're just doing long only share dealing then you can use this. However it doesn't work if you're selling short.
UK CGT needs to be paid when you realise any profits. So it's not mark to market, but you can't defer it until you do withdrawals eithier.
Also a warning - you can't use simple FIFO to work out your CGT. The rules are a little more complex. If you're just doing long only share dealing then you can use this. However it doesn't work if you're selling short.