When Selling Shares which date to use for Self Assesment Tax Year

Hi, I use Interactive Investor as my dealing platform. I sold some shares on 5 Apr 23 but the Settlement date wasnt until 6 Apr 23. Will this deal be part of 22 - 23 tax year, or will it fall into 23 - 24 tax year.

Hi
The completion date of the disposal will determine the tax year in which the capital gains arises.
 

Sorry - can I double check please. I had searched this forum but had also read: CG14260 - Computation: rules determining date of disposal "If the disposal is made under an unconditional contract the date of disposal is the date the contract is made. It is not the later date when the asset is conveyed or transferred to the purchaser." So for shares wouldn't it be the Trade Date (the date the contract is made) and not the later date (when the asset settles). Thanks.

Hi JustCheck

When selling shares, the contract would be entered into on the day the share is sold and this would determine the year in which it is declared.
This could be different for property as the contract may stipulate some conditions to be met which could occur later hence the wording of CG14260.

Thank you

@hmrc admin when selling shares, the contract says the date is 03/04/24 but the settlement date says 08/04/2024. Do I use the tax year 23-24 for the disposal of this asset (when I pressed sell), or do I use the tax year 24-25 for the disposal of the asset?

Hi sfsaaaee554,
You would use the completion date and the gain would be applied to the tax year the completion date falls in.
Thank you.

Apologies, but does the completion date mean the trade date (when the stock shares were actually sold by the broker "transaction date") or the settlement date (when the broker transferred the money to the customer's account)? I assume it's the trade date when the shares were already sold. Is that correct? Thank you for your guidance!

Hi,
 

It is the trade date . Thank you