Sharesave & Gifting to Spouse

sammyellen

Good Morning
I have read through the Forums and I'm still not 100% sure if what to do once my Sharesave matures in December 2021. Apologies if I've missed something obvious!  I have read through the Sharesave documents for work and there is no mention of having a profit that would require gifting over 2 tax periods

I will have saved a total of £15,000 and as of today's share price I am looking at a profit of £53,000 on top of that.
Going by last years Capital Gains Tax Allowance of £12,300 per person I want to gift some shares to my husband to use his CGT allowance over the next 2 tax periods.
As I want to gift him a total of £24,600 worth of shares for him to sell over the 2 Tax Years, am I able to gift the full amount in one go and he holds the shares in his name or will I need to gift him the shares in two separate transactions, one each Tax Year?

Also, if my understanding is correct, I will be able to sell shares for myself with the value of £27,300, this Tax year without paying any Capital Gains Tax?

I hope that all makes sense!  Thank you
Lx

Jeremy535897

Married couples living together may give shares to each other without any capital gains tax consequences. You do not need to do two transactions. Bear in mind though with a SAYE scheme:

• you have to exercise the options and buy the shares before you can give them to your husband
• there should be no agreement that the shares will be sold at the time you give them to your husband. If there is, you may be treated as giving him the proceeds rather than the shares
• you can give shares equal to the value of the annual exemption (likely to be no more than £12,300 for some years) plus their base cost, as he will be treated as acquiring them at the price you paid
• you won't know the sale proceeds when you make the gift. The longer between the gift and the sale, the better (see second point above), but the more uncertainty there is about the eventual profit
• if any dividends are paid on the shares before they are sold, those dividends will be taxed on the owner of the shares at the time (your tax rates may be different)
• if there is any capital gains tax to pay, you may be liable at different rates, depending on your individual incomes

sammyellen

Perfect, thank you
So come December, I will gift my husband £25,000 worth of shares for him to do whatever he wants with them
Many Thanks