Well yea if it’s Thet full amount I get you! But if you’ve got to pay 40% on it, it’s a bit pointless putting that much in the Gia or normal trading
I pay enough tax on my American shares I ain’t starting with British ones too! So all mine are in my ISA obviously I don’t have Thet large amount to play with in 1 go
20% tax at most even assuming a higher rate tax payer and CGT limit exceeded this year. Not sure making £2k in 4 days in a GIA, after tax is ‘pointless’
Indeed. £500 profit a day is a cool £182K a year.
Not sure why the point of raising the 20K/year ISA limit would apply if someone has been putting in £20K for years, not withstanding profit accumulated over that time sitting in the ISA.
Indeed, recent figures suggested there were approx 4000 ISA millionaires in the UK.
Interesting. Is there a source for that? I guess anyone saving £20K over 25 years qualifies but generally if they’re making 5% or so from the stock market it’s going to happen sooner. No doubt there’s some that have invested 20K a year and made a loss.
I raised the isa/20k point. As it appeared that he had purchased 100k of Lloyds stock. I didn’t consider the fact that they may have had £100k available (built over time) in the isa to purchase lloyds stock. I’ve not used a self manage stocks ISA account yet. So didn’t consider that angle. I currently have a managed stock isa. Though. That will change in a couple of months when we can open more than one if the same type if isa’s
Yes we’re all looking at different angles but good to see all the different ones all the same.
£100K to me is a large amount of money but simply 5 years worth of ISA allowance without tax implications.
The poster likely pays capital gains.
TBH with my £20K pot I’ve traded about £40K so a wee hurrah for that 0.5% stamp duty on the ftse stocks. Everyone’s position is different.
If your earn enough money in a day job anything else is surely 40%, it’s 15% tax on American shares!
Well it’s 0.43+ today so could make a lot more,
And if somebody is risking 99k on one stock they mustn’t need the 2k profit
Capital Gains Tax on shares is 10% or 20% dependent upon other income.
Are you thinking of income tax @Lenny ?
Capital gains on stocks is 10% or 20% (outside of property)
Doesn’t it count as the same? Don’t you pay 40% on everything over a certain amount?
Nah 40% is just the tax rate on any income/salary above £50270
If you earn a salary on or above £50270 then it triggers a higher capital gains tax rate, for any gains/profit you make on assets (outside a tax sheltered account) - Capital Gains Tax: what you pay it on, rates and allowances: Overview - GOV.UK
Nailed it bang on with 1.84p! £2 billion of buybacks too
I’ll even go so far as to suggest the next dividends will be 1p and 2p to keep with the trend.
I did sell all my ft lloyds shares but have them in my sipp…so maybe time to start building a decent position again
Good to see that once the flouncing to the sell button stopped and the figures are properly digested we have seen some common sense prevailing. Here’s hoping for more good news to drive this up further
Hi all, I’m Very happy with the news today as we all are.
It’s a shame I was only able to increase my holding by 1000. Here’s hoping 45p is the new long term floor price.
Happy days back in the green again