Using Capital Gains allowance
Discussion
Hi all
Could anyone tell me if my thinking is correct on using my capital gains allowance.
Aside from pension or Isa I have a stock trading account which has some good gains since started. When I sell these stocks I assume that I'll be taxed on the capital gain.
I don't currently use my annual capital gains allowance.
If I sell enough of the shares to show a gain of £11k then I can use my allowance. Then buy back into the market and in effect reset my tax and gain position.
Rather than selling them in years to come and paying tax on a possible amount over £11k
Is that a plan?
Could anyone tell me if my thinking is correct on using my capital gains allowance.
Aside from pension or Isa I have a stock trading account which has some good gains since started. When I sell these stocks I assume that I'll be taxed on the capital gain.
I don't currently use my annual capital gains allowance.
If I sell enough of the shares to show a gain of £11k then I can use my allowance. Then buy back into the market and in effect reset my tax and gain position.
Rather than selling them in years to come and paying tax on a possible amount over £11k
Is that a plan?
Gassing Station | Finance | Top of Page | What's New | My Stuff