Perfusion
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Does this trigger capital gains tax?
Hello, If I were to buy 100 shares of a company for £10,000 and the share price doubled after I bought it - so 100 shares are now worth £20,000. Then I were to sell 50 shares of that company for £10,000 and just hold the other 50 shares, does this trigger capital gains tax? I have only gained back my original cash stake in the company and not profited per se on a cash basis, rather the profits are still held in the asset. Or Would the per share price trigger capital gains tax? So by me selling 50% of my shares I would be taxed on £5000 (I'm disregarding the £3000 tax free allowance for the sake of simplicity). Thanks Tom -
Tax Free Trading Allowance
Hello, My main job is taxed via PAYE, which puts me in the higher tax rate of 40%, however I also do some self employed work throughout the year as a second source of income - this is untaxed. My query is with the £1000 tax free trading allowance, my 2nd income from the self employed work exceeds this but am I correct in thinking I can claim the £1000 as expenses providing I do not claim for any other expenses on my self assessment? If so, do I simply enter £1000 in the "Total Allowable Expenses" section when detailing my self employed income? Thank you.