This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

What tax do I pay when I sell stocks in the UK

tigerepic77
Posts:3
Joined:Sun Feb 28, 2021 10:09 pm
What tax do I pay when I sell stocks in the UK

Postby tigerepic77 » Sun Feb 28, 2021 10:18 pm

Hi, I live in the UK and have invested in a pretty big stock opportunity recently. It's the GME short squeeze and a lot of people like me stand to make a lot of money from this stock pretty soon (if it happens).
I would just like to know what taxes I would have to pay if I do make a lot of money from it. At maximum it could be up to a few million pounds for me so I want to be absolutely sure.
I know about CGT and income tax and everything but i want to know do I have to pay both on the gains? or do I just pay CGT?
I've searched a lot but there is no clear answer about this and I like to be sure about these things.
Thanks

pawncob
Posts:4749
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: What tax do I pay when I sell stocks in the UK

Postby pawncob » Mon Mar 01, 2021 11:42 am

https://www.gov.uk/capital-gains-tax/rates
With a pinch of salt take what I say, but don't exceed your RDA

tigerepic77
Posts:3
Joined:Sun Feb 28, 2021 10:09 pm

Re: What tax do I pay when I sell stocks in the UK

Postby tigerepic77 » Mon Mar 01, 2021 3:51 pm

Hey thanks, I saw this page. So your saying I only pay CGT?

pawncob
Posts:4749
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: What tax do I pay when I sell stocks in the UK

Postby pawncob » Mon Mar 01, 2021 6:06 pm

Yes.
With a pinch of salt take what I say, but don't exceed your RDA

tigerepic77
Posts:3
Joined:Sun Feb 28, 2021 10:09 pm

Re: What tax do I pay when I sell stocks in the UK

Postby tigerepic77 » Tue Mar 02, 2021 9:12 am

Thank you, this helps a lot :)


Return to “Savings & Investments, Pensions & Retirement”

cron