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Company SAYE and CGT
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priyesh13
Posts: 6 Forumite
in Cutting tax
Hi
My 3 year SAYE scheme at work is due to mature in February.
I wanted the money pretty quickly as I wanted to pay off my credit card, but realise if I do a quick 'sell all', I'll have to pay Capital Gains.
As I say my aim is to have all the money now, but is there a way to do that without paying CGT. I've read around and understand I can transfer the shares to a stocks and shares ISA without paying CGT on the transfer and eventual sale, but do I have to wait a certain amount of time before selling?
I also understand I could transfer some shares to my wife, but I don't think this will be an option for me as she's just about to cash in on one of her company's SAYE schemes herself at the same time. We're both on the higher rate tax band if that's of any use.
It's all confusing me a bit, so any help would be most appreciated.
My 3 year SAYE scheme at work is due to mature in February.
I wanted the money pretty quickly as I wanted to pay off my credit card, but realise if I do a quick 'sell all', I'll have to pay Capital Gains.
As I say my aim is to have all the money now, but is there a way to do that without paying CGT. I've read around and understand I can transfer the shares to a stocks and shares ISA without paying CGT on the transfer and eventual sale, but do I have to wait a certain amount of time before selling?
I also understand I could transfer some shares to my wife, but I don't think this will be an option for me as she's just about to cash in on one of her company's SAYE schemes herself at the same time. We're both on the higher rate tax band if that's of any use.
It's all confusing me a bit, so any help would be most appreciated.
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Are the shares going to take over the CGT limit ?0
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