Looking for a little advice...

m4rkje

I invested (for ease of figures) £25k in 2001 which is now worth £50k

I am a higher rate tax payer (40%)

Is there any means of taking any of the £50k without incurring tax (this is an investment, not an ISA)

Thanks in advance

Flim

Is there any way if transferring it to a SS ISA, OK you can only do this at the rate of £20k per year but at least it’s then tax free?

triplea35

Sell half now and use this years Capital Gains allowance (AEA) of £11700 and sell the rest after 5th April to use next years. Only leaves £1600 liable to tax?

m4rkje

its value is currently~ £50k

Stirfry

And you started with 25K?

eskbanker

m4rkje wrote: »

Is there any means of taking any of the £50k without incurring tax

If it's doubled in value then you can liquidate twice your CGT allowance per tax year without incurring capital gains tax, so you could sell £23.4K before 5 April and the same again afterwards (assuming no significant further growth between now and then). If you're determined to avoid CGT completely, you'd have to wait until the start of the 2020/21 tax year to sell the remaining small chunk....

Mr.Saver

Just to add one additional point to the above very helpful posts.

If you have reinvested the dividends, and those dividends are part of your now £50k investment, the real capital gains could be less than two years' CGT allowance. You will need to look into this. If this is the case, you may be able to sell all £50k in two tax years and completely avoid the CGT.

m4rkje

yes, but it was 18 years ago

m4rkje

many thanks to all, some 'food for thought' - appreciated ...