Transferring shares to my wife

peterg1965

So selling costs are trading costs and Stamp Duty? I need to have a trawl over the HMRC website!

Thanks

gadgetmind

This should help.

http://www.hmrc.gov.uk/cgt/intro/record-keeping.htm

http://www.hmrc.gov.uk/cgt/shares/calc-cgt.htm

http://www.hmrc.gov.uk/cgt/shares/find-cost.htm

calypso_rhapsody

Peter G - there is something to be said for reviewing your portfolio towards the end of the tax year each year and selling anything that you have made a profit on and are happy to sell so as to use up some or all of the tax free CGT allowance. But you should be aware that you can not buy back the same shares immediately (known as bed and breakfasting) but have to wait a certain period (30 days i think but others will correct me).

So it's a finely balanced decision as you may be 'out of the market' - at least in that particular stock - for a while but you have eliminated a future tax charge ...

peterg1965

Thank you, some really useful tips and info. Now just need to make enough of a profit to concern myself with CGT!