Any Tax experts amongst you?

pjran

I hope someone could help me please.

I've had some shares gifted to me. They were in a share save scheme and were 61p but are worth £4+ now. For CGT purposes is the value at 61p or the value when transferred and gifted?

Thank you, I'm sure one you well informed MSEers will be able to help. I have so much faith in you all.

bowlhead99

If the gift was from your spouse, your cost is your spouse's cost. They are deemed to have disposed of it to you at the price they paid for it: no gain, no loss at their end.

If the gift was from some non-spouse third party, whether they give it you for free or perhaps for a 90% discount, the transaction would be treated under the rules for "a disposal otherwise than for a bargain at arm's length"; your cost is the market value when you got them, which is also the deemed disposal price for the person who gifted them.

To your question though, I'm not a tax expert ; the rules are here if you wanted to check
https://www.gov.uk/government/publications/relief-for-gifts-and-similar-transactions-hs295-self-assessment-helpsheet

le_loup

pjran wrote: »

I hope someone could help me please.

Try the tax forum set up specially to answer such questions!