US Sharesave Scheme - CGT for separating couples

FLB_Francaise

Hi all,

I am separating from my husband and currently working on the financial settlement.

We have approximately £36,000 in shares from an employee Sharesave scheme in my name. It is a UK employer, but the shares are in the US parent company.

No dispute from me that we share this half and half. The gain on these is about £18,000 too.

The rest of the settlement will be in my favour, and in excess of his half of these shares. It has always been assumed that I'll  just take ownership of the shares as part settlement of the balance he owes me.

Now given the changes in CGT, I'd like to withdraw as much as possible this year, and then again next year, and put it into an S&S ISA instead.

He has agreed to this plan, but would it work from the CGT transfer perspective? Are there formal documents we need to submit to transfer the shares held in my name to him, before giving the sell instruction. Or can we just proceed as is?

I don't want to give him access to the cash because I would not be confident in him storing it safely until our settlement is finalised.