share gains - how do you work it out

[singapore]

Unfortunately although working in Singapore Im still resident in UK for tax purposes. I need some computer program to work out my gain for 05-06 tax year. Ive made 83 trades, often in the same share, so I need help. Any recommendations? Im not willing to pay more than £100 or so for this. Thx

[Leftie]

I thought you get a CGT allowance of about £8000 a year? I asked this recently (you could do a search on this forum posts) and Eric Mc said that if the CG in the year wasn't over the £8000 or so there was nothing to pay.

[Leftie]

www.pistonheads.com/gassing/topic.asp?t=353068&f=92&h=0

[Size Nine Elm]

Rules for matching acquisitions/disposals are on the HMRC website, brief details at
www.hmrc.gov.uk/leaflets/cgt1.htm#c13

[Eric Mc]

Share sales and CGT make for a very complicated mix (often).

[singapore]

Just doing a quick Google search

Meridian Software have a package. www.meridian-software.co.uk/
FairShares. www.updata.co.uk/portfoliopro/
Theres also an online option at www.cgtcalculator.com

Any feedback welcome. The downloadable packages may allow you to try free for a limited time, so Ill check that out

[thewave]

singapore said:

Unfortunately although working in Singapore Im still resident in UK for tax purposes. I need some computer program to work out my gain for 05-06 tax year. Ive made 83 trades, often in the same share, so I need help. Any recommendations? Im not willing to pay more than £100 or so for this. Thx

I don't think I know of any computer programmes cheap enough that will calculate your gain on those trades, I'd recommend you use an accountant, and I'm certain that'll cost more than £100.

Don't forget shares work on the LIFO basis (Last In First Out) Also there are certain breaks for AIM listed companies etc....you might be able to do yourself?

[singapore]

<i>I don't think I know of any computer programmes cheap enough that will calculate your gain on those trades, I'd recommend you use an accountant, and I'm certain that'll cost more than £100.

Don't forget shares work on the LIFO basis (Last In First Out) Also there are certain breaks for AIM listed companies etc....you might be able to do yourself? </i>

Im not paying an accountant. No way , not for something that can be done by some half decent software. Why pay an accountant £300 or so every tax year when I can buy s/w for £100 that I can use every year?

As for the above software Fairshares is more a portfolio managment tool and its quite expensive. Also I couldnt trial it out. Meridian s/ww is cheaper and but again I cant trial it. The cgtcalculator.com site though is free to use and it worked out my gain for my dozen FWY trades and calculated taper relief as well. Ill add the rest tomorrow. It does look very professional with all the calculations shown. Has anyone else used it