Joint share ownership

Creashor

Hi

I'm looking for some guidance regarding share ownership and cutting my CGT liability.

I recently purchased the options I had in the business that employs me. This was done in my name and the shares were owned by me. I then deposited the shares in my First Direct nominee share account, which is a joint account with my wife.

My question is this: do I still have to transfer a portion of the shares to my wife to use her CGT allowance or does the fact that they are now held by the nominee for our joint benefit help in that same regard?

Any help gratefully received.

Thanks

Keep_pedalling

FD will have recorded you as joint beneficial owners so you don't have to do anything else.

See 7.3 on page 30.

https://www2.firstdirect.com/content_static/pdf/share_service_terms_and_conditions.pdf

Creashor

Thank you, that's very helpful.