Gifting Shares

PompeyPete

I don't know the full story behind this, but I'd be very grateful for any advice.

My dad, who died in 1983, worked for ICI and received Shares as part of his employment contract.  When he died in 1983 he passed on these Shares to my elder brother.

My elder has kept the shares until now.  He now wants me and our younger brother to benefit from these shares.  Understand that ICI are now Astra Zeneca.

I'm sure that there must be tax implications involved in all this, particularly as they could be worth something in the region of £100,000.

What is the best and most tax efficient way forward please.

Many thanks.

[Deleted User]

Hi,

is THIS any help.

Olinda99

Your elder brother needs to pay cgt on the gain from 1983 to now (less allowance)

There is no tax on gifting

MX5huggy

What has your brother actually got? ICI was taken over by AkzoNobel in 2008 at a price of £6.70 share. 

Zeneca (later Astra Zeneca, after a merger) was formed by de-merging the bio sciences devision out of ICI in 1993. 

https://en.m.wikipedia.org/wiki/Imperial_Chemical_Industries

wmb194

Olinda99 said:

Your elder brother needs to pay cgt on the gain from 1983 to now (less allowance)

There is no tax on gifting

Slightly complicated by the fact it split into two companies in 1993, ICI and Zeneca, so you'd need to make an adjustment for this. The new ICI, which included Dulux paint, was later bought by Akzo Nobel in 2008.