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SAYE Employee Sharesave
lawley1010
Posts: 286 Forumite
My husband has 3 SAYE sharesaves on the go at the moment with one finishing in Dec 2011. We will probably buy shares and then sell them soon after but I was wondering if the profit made (about £1300) will have to be declared as income for tax credits etc. We are new to this and dont quite understand.
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Comments
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I'm not sure you've described the scheme in enough detail to be 100% on the answer but: Profit on shares is not 'income' for tax purposes; it's 'capital gain'.
If you have no other capital gains in the tax year you make the profit, you'll have no tax to pay on it as it will be within your (his) annual CGTax allowance, £10100 at the moment.0
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