26/09/2020
So you know how I said, “I’m sooooooooo clever with my Tesco shares I’m going to avoid capital Gains Tax by obtaining my letter of authorisation and submitting a transfer request to move my Tesco Share scheme into my Stocks and Shares ISA”.
Well I kinda fucked that up!
These people deliberately make things so difficult with their wordings, make processes so slow and full of friction that no wonder people give up and settle with getting the rough end of the stick.
It doesn’t matter though, all is not lost and rather than mull and moan I’m much better prepared for next time!
I decided to sell some of my Tesco shares and before we work out how much I made of them. I wanted to describe the feeling of selling my shares for £35000, holy fuck what an adrenaline rush!!!!!!!
As soon as I got the letter saying they refused to transfer the shares over I jumped straight into action mode.
I had to search for my shareholder reference number, then find my national insurance number, feeling super ready logged into my account and screamed “let’s gooooooooooooooooo!”
After I considered how much I wanted to raise (£35000, which is like an insane amount!) the interface decided to give me a quote.
I had 20 seconds to accept and it was in these 20 seconds where literally my mind talk went fucking HAYWIRE!!!
“Shall I wait…. Maybe they might be worth more in the future?”
“Take more out Abhi, be greedy for once you prick!”
“Take less out Abhi, why are you being a greedy prick?!”
“Don’t do it”
“Just do it”
So I did it and then these mad endorphins rushed to my head, I just cashed out £35k that for the last 5 years I couldn’t touch, to £35k I could do WHATEVER the fuck I want with LOLOL.
But I promise to you all and myself the plans I have with it are fiscally responsible!
Let’s just break down the trade for analysis/reference purposes:
So
Through the employee scheme I was allowed to buy the share at Tescos at a discounted price of £1.50.
On the 2nd of March I instructed the company to buy 14140 of shares at this price. Between March and now through dividends I managed to accumulate 16314 shares at no extra cost.
16314 shares at:
£2.167169 = £35,355.19.
(MINUS commission (yuck) = £353.55)
Leaves me with the £35000 I was after.
If I was only allowed to sell them at the value I bought them for:
14140 x £1.50 = £21,210
£35,000 – £21,210 = £13,790
I made £13k, not bad for my first trade right!
Let’s work that out as a percentage…….. 65% profit!
That’s incredible, I’m super chuffed.
Right I will let you know the execution of what I plan to do with the cash next week!
We won today
We WON