stmac

If you hold the identical share with two different brokerages is that one section 104 or two section 104s? The HMRC documentation makes no mention of holding the same share with different brokerages so am I to assume that it is one section 104? Do you have the option to regard them as two separate section 104s? Ideally I wish section 104 did not exist and I was able to sell individual lots of shares even from the same broker (I can identify the lots) which is by far the simplest but it doesn't sound like that is allowed. I've tried to get an answer before but never got the answer. Thanks in advance

Can you confirm the following is correct. I have read the Capital gains documentation. I have a significant capital gain on SHARES and wish to confirm that if I make a capital gain now (tax year 2024-25) that I would report this in my 2024-25 self assessment which means that I have until January 31st 2026 to pay the tax. My preference is to wait until then to pay. The amount is above the capital gains tax free allowance. I understand that there is a requirement to report pay within 30 or 60 days for property but I see no similar requirement for shares and no dependency on when to report and pay based on the amount owed.

Hi, These are two different US brokerages holding the same US share, not a UK brokerage and a US brokerage. SA100 doesn't come into it, it is all SA106. For the same US share held by two different US brokerages, is that regarded as one S104 holding or two S104 holdings? It would be much simpler without S104 holdings since US brokerages keep track of costs for each lot of shares independently but I guess I cannot do it that way. It has to be a S104 holding but is it one or two S104 holdings.

Scenario Foreign shares (USA) and UK capital gains. I hold the same share in two different US brokerage accounts. When selling all the shares in one brokerage account but retaining the shares in the other brokerage account do the shares in each account constitute a single section 104 holding or two 104 holdings. i.e. Can each brokerage account be regarded as a separate 104 holding (much simpler). I'm not concerned about 30 day rules etc. none of the shares fall into that category. If only I could just sell specific lots, that fits in much better with the US system. If you regard UK section 104 as the UK equivalent of US average cost then having one brokerage account set to average cost and another set to First in First Out (FIFO) is totally possible in the US. You can also have each brokerage account set to average cost but the averages are separate for each account. That would be the equivalent of two section 104 holdings. I can see this getting extremely complicated if the capital gains system changes in the budget (index linking?) and I'm left with a partial 104 holding. Partial 104 holdings being a headache and the need to convert acquisition costs to pounds sterling further complicates the already complex calculations.