CGT status

CGT status Feb 26, 2021 14:26:28 GMT

Quote

Post by toffeeboy on Feb 26, 2021 14:26:28 GMT

Feb 26, 2021 13:22:46 GMT rogedavi said:

Hi folks

Im wondering if anybody has researched or knows the CGT status of the following:

AC Access account products sold at a discount - can they be charged as losses against over gains for the purpose of CGT?
RS loans where a fee has been charged for early access - can the fee be classed a loss against over gains for the purpose of CGT?
WA secondary market trading - can the gain/loss go into the CGT calculation?

My intuition is that AC/RS is no (and if no, can it be used to offset P2P income?), whilst WA is pure secondary market trading so its a yes.

If anyone could clarify that would be really helpful

Thanks

Hi RogeDavi

I am not sure on these and someone else will answer shortly on more detail but I believe that for CGT the loans must have been brought and sold on the secondary market. Amounts invested in loans at their commencement are called primary loans and I don't believe that any discounting given can be classed as a loss for CGT.

The fees from RS will go against income not capital gains.

I don't know anything about WA but my first sentence would apply again.

Post by rogedavi on Feb 26, 2021 13:22:46 GMT

Post by toffeeboy on Feb 26, 2021 14:26:28 GMT