Transferring sharesave shares into an ISA

flopsy1973

is there any other way i can do this to minimise CGT can i give some as gifts or put them in my partners name ?
also the 4295 above is the balance when i originally sold some of the 6186 shares from my matured scheme that year and i put those into a ISA. I have not got the option price for those so how do i work that out
any ideas please

Vortigern

flopsy1973 wrote: »

is there any other way i can do this to minimise CGT can i give some as gifts or put them in my partners name ?
also the 4295 above is the balance when i originally sold some of the 6186 shares from my matured scheme that year and i put those into a ISA. I have not got the option price for those so how do i work that out
any ideas please

Yes you can transfer shares to a spouse to make use of their CGT allowance.

To find the option price for the 6186 you could ask your HR dept, the share save administrators, or a colleague who keeps better records

You could start a thread on here "Does anyone know the option price for mycompany's 2001 share save scheme?"

flopsy1973

Have contacted the scheme administrator already. , so is there limit to what I can put in my partners name and what is the process?

Vortigern

flopsy1973 wrote: »

Have contacted the scheme administrator already. , so is there limit to what I can put in my partners name and what is the process?

No limit that I'm aware of.

If you have share certificates you'll need to complete a stock transfer form, ensuring you put NIL consideration. Send the form and certificate(s) to the company registrar.

See guide at link below

https://www.informdirect.co.uk/shares/how-to-complete-a-stock-transfer-form-in-10-steps/

short_butt_sweet

note that a transfer to a spouse or civil partner is treated differently from a transfer to anybody else (including a partner who is not a spouse or CP).

in the case of a transfer to your spouse/CP, you are treated as making no gain and no loss on the transfer. this is regardless of whether the transfer is a gift or is for the market value of the shares or for any other amount. (however, making it a gift does have the advantage that no stamp duty is payable on a gift.)

when your spouse/CP goes on to sell the shares, they are treated as having the same cost basis as you'd have had if you'd kept the shares and sold them yourself. so your unrealized gain isn't "forgotten" when you give shares to your spouse; the advantage is that their CGT allowance can be used against it (as well as your CGT allowance being used against the gains on the shares you retained).

Vortigern

Linton wrote: »

Good idea but note that in this case "partner" means spouse. Otherwise the gift would be liable for CGT based on the market price at the time of the gift.

Above quote from another similar thread may be relevant here.

flopsy1973

Ok so what makes my partner officially a civil partner we are engaged and live together?

Vortigern

flopsy1973 wrote: »

Ok so what makes my partner officially a civil partner we are engaged and live together?

Follow this link

flopsy1973

thanks that not going to work either. law has not changed yet on mixed sex civil partners.

have read about gift allowance so could i give shares to family of 3000 but will that be liable for CGT

any other ideas

flopsy1973

short of getting married in next few weeks cant use the giving them to my partner?

what is the best way to deal with the share numbers quoted above no in case i have worked out my gains wrong ?