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Where Taxpayers and Advisers Meet

Help! Made too much money on stocks!

gman2019
Posts:1
Joined:Wed Apr 03, 2019 5:54 pm
Help! Made too much money on stocks!

Postby gman2019 » Wed Apr 03, 2019 6:05 pm

Just realised my profit from selling shares (mostly in Q4 2018) exceeds significantly the annual capital gain tax allowance for tax year 2018/19. Do the tax rules allow me to buy some of the shares back tomorrow (4 April 2019) such that the profits made in Q4 2018 do not count towards the capital gain tax cacluations?

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Help! Made too much money on stocks!

Postby pawncob » Wed Apr 03, 2019 10:56 pm

I think you need to reconsider your profit situation as you have little knowledge of CGT rules.
With a pinch of salt take what I say, but don't exceed your RDA

Jholm
Posts:360
Joined:Mon Mar 11, 2019 4:22 pm

Re: Help! Made too much money on stocks!

Postby Jholm » Thu Apr 04, 2019 9:09 am

There are provisions in place to stop that. How much in excess are you talking? The tax rates are only 10/20% depending on your other income.

Have a look at the share matching rules on HMRC's website as the gains/losses you think have made may not always be in line with those of the tax position.

You could sell some loss-making shares I guess, but not necessarily wise....


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