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Posted Wed, 03 Jan 2024 15:52:07 GMT by Brent Sandiford
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.
Posted Mon, 08 Jan 2024 12:37:39 GMT by HMRC Admin 10
The completion date of the disposal will determine the tax year in which the capital gains arises.
Posted Mon, 15 Jan 2024 16:40:17 GMT by JustCheck
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.
Posted Tue, 23 Jan 2024 15:04:36 GMT by HMRC Admin 5
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
Posted Sun, 26 May 2024 17:43:38 GMT by sfsaaaee554
@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?
Posted Fri, 31 May 2024 10:55:44 GMT by HMRC Admin 20
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.

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