Can I Avoid Capital Gains On A Sharesave Scheme ?

mrcoupland

A Works Sharesave Scheme Is About To End . The Potential Profit Is Approx 13,000 . If I Sell Shares To The Value Of Approx 8,000 And Keep The Remainder Until Next Year Before Selling Will I Avoid Capital Gains Tax ?? Would Really Appreciate Any Advice As The Scheme Operator Cant Tell Me . Thanks

georgan

Hi,

as you are rightly saying, you can use your annual CGT allowance hence sell this tax year the equivalent amount of shares whose CG equals the allowance. There is also another vehicle usually associated with Sharesaves relating to switch portion of the acquired shares into a Maxi-ISA. Again maxis run an annual tops of share value (£7000). However, it provides you a shelter against another £7K worth of shares. This is also worth investigating with the society administering your company's scheme.

Aris