shares and income tax

merseyscouse

as we approach the end of the tax year i believe my paye income will drift into the 40% tax bracket, i have some shares which have to be sold which will bring in about £3000, will this be added to my personnal income and what is the tax liability?? i might be able to take the sale of the shares in the form of a credit note....any thoughts.

jem16

Selling shares will be liable to capital gains tax not income tax. The first £8800 is exempt so you should be fine with just £3000.

merseyscouse

thanks jem