Capital gains tax

wazza99

I hadn't given this much thought until now, in Jan 2024 i have a share save scheme maturing after 3 years, all was well i thought with CGT being £12300, current potential profit is around £11000. Roughly £11000 fund to buy shares @22p current value around 47p = £22000. All things staying same and now realising CGT drops to £6000 in April 2023. I suspect then  have to consider how to best move forward at maturity to avoid 10% on £5000 ? any suggestions, i dont really know too much about such things, i also read it drops to £3000 post April 2024......should i sell some pre April, then rest post April ? or gift to my wife ? move into a stock and shares ISA?

p00hsticks

If it;s a Save As You Earn scheme, then you can transfer up to £20,000 into a S&S ISA within 90 days of the maturity date

https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa

wazza99

Do you transfer the stock/shares or the money from the sale and buy new stocks ? I assume then you either keep the amount over £20000 as shares or just sell them ?

wazza99

Can you immediately sell the transferred shares from the s+s isa, if you wanted the cash ? accepting ofc youve then lost that years allowance of £20000.

singerpapillon

wazza99 said:

Can you immediately sell the transferred shares from the s+s isa, if you wanted the cash ? accepting ofc youve then lost that years allowance of £20000.

This was a great question but nobody replied and I would’ve wanted to know the answer as well.

Reaper

Yes, once it has moved to an ISA you can do whatever you want with it.