Reducing CGT on company shares
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NOVAMET21
Posts: 197 Forumite
in Cutting tax
Hi
Any advice would be appreciated.
Are there any ways to to reduce the CGT after receiving the gains from company shares.
One of the thing I have heard is that if I put the gains into ISA account then I don't have to pay the CGT. Not sure if this is true.
Any advice would be appreciated.
Are there any ways to to reduce the CGT after receiving the gains from company shares.
One of the thing I have heard is that if I put the gains into ISA account then I don't have to pay the CGT. Not sure if this is true.
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Comments
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NOVAMET21 said:Hi
Any advice would be appreciated.
Are there any ways to to reduce the CGT after receiving the gains from company shares.
One of the thing I have heard is that if I put the gains into ISA account then I don't have to pay the CGT. Not sure if this is true.
If you had bought the shares from within the ISA (assuming that they were the type of ,mainstream share you could) then any gain would have been CGT free. But if you have bought and sold outside an ISA then I'm not aware of any way you can avoid paying CGT on the amount of gain over your CGT allowance. And even if there was, it's would almost certainly involve an action being taken before you actually sold them.0 -
Depends on your company share sceme details. If they arose from a tax except share saving plan, there is no taxable capital gain (yet).If you want to keep them then transferring them to an isa (like any other share if less than 20k value) would remove CGT and dividend tax liability in the future.In some circumstances you may be able to transfer directly from a company scheme to an isa if it’s a uk listed company.0
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On-the-coast said:Depends on your company share sceme details. If they arose from a tax except share saving plan, there is no taxable capital gain (yet).If you want to keep them then transferring them to an isa (like any other share if less than 20k value) would remove CGT and dividend tax liability in the future.In some circumstances you may be able to transfer directly from a company scheme to an isa if it’s a uk listed company.
And I presume that any left over gains then is liable for CGT?
Thanks0 -
NOVAMET21 said:On-the-coast said:Depends on your company share sceme details. If they arose from a tax except share saving plan, there is no taxable capital gain (yet).If you want to keep them then transferring them to an isa (like any other share if less than 20k value) would remove CGT and dividend tax liability in the future.In some circumstances you may be able to transfer directly from a company scheme to an isa if it’s a uk listed company.
And I presume that any left over gains then is liable for CGT?
Thanks0 -
NOVAMET21 said:On-the-coast said:Depends on your company share sceme details. If they arose from a tax except share saving plan, there is no taxable capital gain (yet).If you want to keep them then transferring them to an isa (like any other share if less than 20k value) would remove CGT and dividend tax liability in the future.In some circumstances you may be able to transfer directly from a company scheme to an isa if it’s a uk listed company.
And I presume that any left over gains then is liable for CGT?
Thanks
Do you have shares that on paper have gained in value since you acquired them, but you still have the shares ?
Or have you sold the shares and therefore 'crystallised' the gain (i.e.you have the extra money in your bank account)
And are the shares (as on-the-coast suggests) ones that you have acquired via some sort of employee company share save scheme ? If they are, which I hadn't considered when replying initially, then there are ways of transferring the shares directly from the share save scheme into an ISA. I think you only have a limited time to do it though.
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p00hsticks said:NOVAMET21 said:On-the-coast said:Depends on your company share sceme details. If they arose from a tax except share saving plan, there is no taxable capital gain (yet).If you want to keep them then transferring them to an isa (like any other share if less than 20k value) would remove CGT and dividend tax liability in the future.In some circumstances you may be able to transfer directly from a company scheme to an isa if it’s a uk listed company.
And I presume that any left over gains then is liable for CGT?
Thanks
Do you have shares that on paper have gained in value since you acquired them, but you still have the shares ?
Or have you sold the shares and therefore 'crystallised' the gain (i.e.you have the extra money in your bank account)
And are the shares (as on-the-coast suggests) ones that you have acquired via some sort of employee company share save scheme ? If they are, which I hadn't considered when replying initially, then there are ways of transferring the shares directly from the share save scheme into an ISA. I think you only have a limited time to do it though.
Will recieve it once the company has been sold.0 -
NOVAMET21 said:p00hsticks said:NOVAMET21 said:On-the-coast said:Depends on your company share sceme details. If they arose from a tax except share saving plan, there is no taxable capital gain (yet).If you want to keep them then transferring them to an isa (like any other share if less than 20k value) would remove CGT and dividend tax liability in the future.In some circumstances you may be able to transfer directly from a company scheme to an isa if it’s a uk listed company.
And I presume that any left over gains then is liable for CGT?
Thanks
Do you have shares that on paper have gained in value since you acquired them, but you still have the shares ?
Or have you sold the shares and therefore 'crystallised' the gain (i.e.you have the extra money in your bank account)
And are the shares (as on-the-coast suggests) ones that you have acquired via some sort of employee company share save scheme ? If they are, which I hadn't considered when replying initially, then there are ways of transferring the shares directly from the share save scheme into an ISA. I think you only have a limited time to do it though.
Will recieve it once the company has been sold.
https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa
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