capital gains tax on company sip share incentive plan

ticketguy

hi all, i worked for a company for 13 years , that had a company share incentive plan , i left the company nearly 20 years ago , i kept the shares in a share shop run by the company , reinvested the dividends to buy more shares over the years , as they are shares in a oil company they have increased in value considerably over the last year or so, i was wondering if i sold the shares would i be liable to capital gains tax , if the gain was over £12,300 , on the hmrc website it says, if you get shares through a s i p and keep them in the plan for 5 years you will not pay income tax or national insurance on their value , and you will not pay capital gains tax on shares you sell if you keep them in the plan until you sell them,they are valued at about £40000 now , i called hmrc for advice the guy was very vague on if i would pay c g t ,i think he was not sure himself, he told me to consult the share shop rules , and they have told me to contact my countries tax authorities for advice so i,m getting nowhere with this, thanks in advance

eskbanker

ticketguy said:

they have told me to contact my countries tax authorities for advice

What did they mean by this, are you tax-resident in the UK and/or are the shares listed in another country?

ticketguy

i,m tax resident in the uk , the shares are listed in the usa