Shares for Business Tax

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jewels.p
jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
in AAT Level 4 (Level 8 in Scotland)
Shares bought in the nine days before disposal of shares are matched with those disposed of and the rest goes into the pool.

Does this mean that the ones that have been matched dont have any chargeable gain?

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  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    Yep spot on!
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    Thanks reddwarf I know you are just being nice cause you want me to be your friend.............:lol:
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    Opps didn't see your second comment! No there is a gain/or loss from the 9 day matching. First bit is spot on!

    You work out the proceeds for the number of shares that you can match using your 9 day rule.

    You should already have the cost of the ones you are matching (ie. 5000 cost £35000) to your disposal e.g.

    disposal 10000 for £80,000

    Say I am matching to the 5000 which cost me £35,000.

    Therefore £80000/10000x5000 = Proceeds of £40,000
    Cost £35,000
    Gain £ 5,000

    There is no indexation as there has been no lapse of time for indexation to happen in the nine days

    Obviously you've only got 5000 left to dispose from your pool, used to calculate the cost of this 5000. Your proceeds when your work our the gain is the other £40000.

    I always forget to add the first gain to the one you calculate from your pool later, so I write some sort of note to remind me...

    I hope this helps?
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    Oh gawd, so my second post means you will hate me!!!
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    So is this the same for shares disposed of in the same day? You then add whatever gain there is to the gain (with indexation) from the pool!

    P.S The only reason I got the first bit right is cause I copied it from my book! :lol:
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    Before I answer I am reading your whole post, including the bit about Scotland and sheep!

    It's all spot on! I'm half scottish (not half sheep though - at least only sometimes!).

    Are you using the Osborne book?
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    I am.................aye using the Osbourne Book not half sheep! I am now away to start the Bank Statement at work but will be back tomorrow to nip yir heed wi questions! TTFN
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    Och I'm awaa to do some messages the noooo! So dunny fash yoursel hen!
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    It's quinie no hen! :lol:
  • AK002
    AK002 Registered Posts: 2,492 Beyond epic contributor 🧙‍♂️
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    We use hen here in Glasgow :)


    Are you from Aberdeen Jewels?
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    AK002 wrote: »
    We use hen here in Glasgow


    Are you from Aberdeen Jewels?

    Not that far North. I am between Aberdeen and Edinburgh. I thought it was the Fifers that say hen? My Sister lives in Dunfermline and she has picked up some of the Fifers twang and I hate it!

    My parents are both from up Aberdeen way so I am used to all the quine and loon talk more than the hens!

    I dont have a twang myself one speaks proper where I live! :lol:
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    I'm in Hertfordshire and we say hen! Not really! My Mum is from Edinburgh and they say hen!
  • hotannie
    hotannie Registered Posts: 2 New contributor 🐸
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    hi. Am wondering if someone can give me some advice. I am looking to sell some shares and I'm wondering if there is a super duper way in which I can save on some of the tax I will have to pay. All help appreciated.
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    No super duper ways, just the normal legal ones I think!

    Make sure the gain is correctly calculated, don't forget the annual exemption etc etc

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