We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Share sales
bellabella
Posts: 1,268 Forumite
in Cutting tax
My husband pays into a matched 141 share save scheme and now has enough to sell tax free to pay our mortgage off but someone has mentioned that we may not be able to take it all in one hit due to capital gains tax does anyone know the rules ? Is there an upper limit per tax year that you can sell?
Thanks in advance
Thanks in advance
Slava Ukraini
0
Comments
-
If he makes a gain of over £11,700 then yes capital gains tax will apply, selling in batches in separate financial years means you can crystallise those gains without paying tax.
As interest rates are so low, then you do not have to be a a great hurry to pay off the mortgage, so why not pay down in lumps rather than immediately? The only down side is that the share price might fall significantly in the coming years but then again they may go the other way.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards