Author Topic: End of tax year - bank holidays - capital gains  (Read 1364 times)

Playing with Fire UK

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End of tax year - bank holidays - capital gains
« on: April 03, 2021, 12:56:25 AM »
Does anyone know, if I place an order to sell a London listed ETF now (in the 20/21 tax year), but due to the bank holidays it doesn't complete until the morning of 6th April (next tax year), has the sale happened this tax year or next tax year?

Thanks all.

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  • Walrus Stache
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Re: End of tax year - bank holidays - capital gains
« Reply #1 on: April 03, 2021, 01:04:06 AM »
I think this may depend on the provider in question, or the type of deal being requested. The last working day of the tax year was the 1st of April but because you've submitted the request in this tax year with a time stamp, maybe that is honoured. I wish I had a definitive answer for you. Do you have at T&C's with the instruction?

Playing with Fire UK

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Re: End of tax year - bank holidays - capital gains
« Reply #2 on: April 03, 2021, 06:53:03 AM »
I couldn't find anything on the provider website, but thought it might be an HMRC rule. I haven't made the transaction yet, I'd do it now if I knew it would be in this tax year but if that isn't possible would rather wait until we are into new tax year proper to avoid getting in trouble with HMRC (or worse, being on hold for hours to speak to someone who doesn't know and then getting in trouble anyway). Thanks never give up.

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  • Walrus Stache
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Re: End of tax year - bank holidays - capital gains
« Reply #3 on: April 03, 2021, 07:12:46 AM »
I may have been thinking of a buy there rather than a sell. Waiting if you can sounds sensible.

Playing with Fire UK

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Re: End of tax year - bank holidays - capital gains
« Reply #4 on: April 03, 2021, 07:45:24 AM »
I'd hoped to tidy up the last bit of capital gains allowance this year, but I'd rather miss out on some allowance than go over next year! Cheers.

 

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