Hi. (Before I head to an accountant) Story - I got bored at...

  1. 8,486 Posts.
    lightbulb Created with Sketch. 1245
    Hi.
    (Before I head to an accountant)

    Story - I got bored at work, started/attempted to trade and my last 2 tax returns I have claimed losses against my regular income, by classing my trading as a business. (probably a bit of a stretch, but had a decent turnover and some decent profits/losses)

    My main question is - I now have a stock that I wish to hold for over 12 months as I think it will result in significant capital gains. If I put this stock into another account and it eventuated that I made a profit can I claim capital gains tax discount on this stock..? (i.e. does having two accounts enable one to get taxed in both ways if necessary..?)

    Any help would be greatly appreciated

    Krusty
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.