I have a holding in Carillion as most people are aware has been forced into Compulsory liquidation. The last price on the stock exchange is 14.20 but I assume to me it is worthless.
The only silver lining to this is I can use the tax loss that is outside the ISA against some capital gains, but I am not sure how this will work or the amount. I would typically expect my capital gains to be worked out by my broker (AJ Bell) and assuming I keep it below the limit then I put noting on my return. However I assume in this case this will not appear on my year end statement. So can I just assume that the holding is worthless and offset it against gains elsewhere?
I am only trying to work this out now so that decide on the amount of gains that I want to take before the end of the tax year.
Any thoughts appreciated.
ExFM
Got a credit card? use our Credit Card & Finance Calculators
Thanks to lansdown,Wasron,jfgw,Rhyd6,eyeball08, for Donating to support the site
Carillion and CGT
-
- Lemon Half
- Posts: 6069
- Joined: November 5th, 2016, 9:05 am
- Has thanked: 20 times
- Been thanked: 1419 times
Re: Carillion and CGT
ExFM wrote:The only silver lining to this is I can use the tax loss that is outside the ISA against some capital gains, but I am not sure how this will work or the amount.
The key words are "negligible value claim".
Here's some material
https://www.gov.uk/government/publicati ... essment-he
https://www.gov.uk/guidance/negligible-value-agreements
You would have a choice of tax years in which to use the CGT loss. What isn't known yet is whether such a loss would be accepted for the 2017-18 year. With a relatively widely held stock, you might hope for clarification sooner rather than later.
Who is online
Users browsing this forum: No registered users and 2 guests