Hi
Could someone please help with the following questions:
- Capital Reduction and Return to Shareholders tax impact – I have a stock called Bezant Resources which instead of paying a standard dividend, the paid something called Capital Return (to shareholders). I wondered if this will be treated as dividend or capital gains. The situation with the stock is that I am heavily in loss ( higher than the amount returned ). I wanted to make sure I understand the income impact ( I.e. Capital gains or Dividend). If capital gains than its obviously better for me as I have almost all of the annual allowance available to me.
- Capital Gains Losses - I have another stock that is heavily in loss in my normal trading account. I am aware of the normal 30 days rule, but wondered if this still holds if I sell the share and buy it back in my ISA account before the 30 days pass? The reason is that if the stock would have a capital gain, then I would still be expected to pay capital gains tax, if I buy it back in ISA under 30 days I assume. So from tax fairness perspective, HMRC should recognise the capital gains loss accrued prior to move to ISA upon which they are tax sheltered?
Thanks :)