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CGT on LSE Shares

  • 15-06-2020 9:40am
    #1
    bradygaz
    Registered Users, Registered Users 2 Posts: 66 ✭✭


    Have had a look and cant find the answer to this so any advice greatly appreciated.

    Another newbie to investing over the last year.

    Is CGT on LSE shares 33%?

    I am certainly not day trading as looking longer term but have bought in and sold out of the one stock a few times across the year to date as I average down and increase number of shares.

    This morning I sold out of this stock completely first thing which delivered a nice % profit. I then used all of this money to buy shares in the same company in the further dip and so ended up with more shares.

    Will I need to pay CGT on that profit even though reinvested?

    Might have been too smart for my own good there but everyday is a school day.


Comments

  • #2
    Kilboor
    Registered Users, Registered Users 2 Posts: 1,224 ✭✭✭Kilboor


    bradygaz wrote: »
    Have had a look and cant find the answer to this so any advice greatly appreciated.

    Another newbie to investing over the last year.

    Is CGT on LSE shares 33%?

    I am certainly not day trading as looking longer term but have bought in and sold out of the one stock a few times across the year to date as I average down and increase number of shares.

    This morning I sold out of this stock completely first thing which delivered a nice % profit. I then used all of this money to buy shares in the same company in the further dip and so ended up with more shares.

    Will I need to pay CGT on that profit even though reinvested?

    Might have been too smart for my own good there but everyday is a school day.

    You'll need to pay CGT on any shares sold for a profit even if reinvested immediately (minus the exemption of 1270)

    The CGT will be 33%.


  • #3
    y0ssar1an22
    Registered Users, Registered Users 2 Posts: 17,749 ✭✭✭✭y0ssar1an22


    and be sure to include the purchase and selling fees when calculating any gain


  • #4
    bradygaz
    Registered Users, Registered Users 2 Posts: 66 ✭✭bradygaz


    Thanks both


  • #5
    JimmyVik
    Registered Users, Registered Users 2 Posts: 5,367 ✭✭✭JimmyVik


    Question from me.
    Are you better off buying shares in individual companies than ETFs as the tax on ETFs is so high.
    Lets say you bought shares in 20 companies and then sold enough every year to use up your €1270 (assuming you made profits), would that be better than investing that same money on ETFs since you dont get a tax allowance to use with ETFs?


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