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Gifting Shares to spouse
ian62w
Posts: 2 Newbie
in Cutting tax
Hello,
I have owned shares in my employer for many years as a ‘nest egg’.
Now I would like to sell some and minimise CGT liability by gifting some to my wife .
This is complicated by the fact that my employer is American and the stocks are held in a US brokerage account which only deals with employees.
It seems I have to transfer stock into a UK brokerage, then transfer to the wife and then she would sell .
Is this correct or am I missing an easier option?
Many thanks
Ian
I have owned shares in my employer for many years as a ‘nest egg’.
Now I would like to sell some and minimise CGT liability by gifting some to my wife .
This is complicated by the fact that my employer is American and the stocks are held in a US brokerage account which only deals with employees.
It seems I have to transfer stock into a UK brokerage, then transfer to the wife and then she would sell .
Is this correct or am I missing an easier option?
Many thanks
Ian
0
Comments
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I think you may fall foul of then having remitted the income to the UK and you become taxable on it.
Unfortunately theres no simple answer to thisI didn't do it, nobody saw me do it, you can't prove a thing!
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I’m a UK citizen (resident and domiciled) and the shares were paid for from my UK income. It just so happens that my employer is a US multinational corporation. I can sell my own stocks but profits are liable to CGT.0
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