I may need to sell some units of the Vanguard FTSE All share OEIC (VVFUSI) I hold outside of a tax shelter. (The units are not in an ISA or pension.) I hold accumulation units bought in September 2014.
How can I check if I have a capital gains tax liability? I think my gross profit (including rolled up dividends) will be more than £6000.
Many thanks
QCG
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Capital gains tax calculation on accumulation OEIC
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- Lemon Half
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Re: Capital gains tax calculation on accumulation OEIC
Your base cost will be what you paid for the units minus any equalisation payment you received plus all of the accumulated dividends you notionally received (but didn't). You do have all the consolidated tax certificates issued by your broker, right?
Then simply subtract what you get for selling them from the base cost, apportioned appropriately if you're not selling the whole holding, to get the capital gain. You can subtract dealing costs, both at purchase and sale, if any.
Then simply subtract what you get for selling them from the base cost, apportioned appropriately if you're not selling the whole holding, to get the capital gain. You can subtract dealing costs, both at purchase and sale, if any.
Re: Capital gains tax calculation on accumulation OEIC
>You do have all the consolidated tax certificates issued by your broker, right?
Of course
Thank you mc2fool. Really appreciate your very clear answer.
QCG
Of course
Thank you mc2fool. Really appreciate your very clear answer.
QCG
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- Lemon Quarter
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Re: Capital gains tax calculation on accumulation OEIC
You have been declaring and paying any due taxes on the accumulated dividends each year ?!
Even though they were automatically rolled into buying more shares, that is still a taxable event.
Even though they were automatically rolled into buying more shares, that is still a taxable event.
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