We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Giving shares instead of cash to negate IHT
planforfuture
Posts: 114 Forumite
in Cutting tax
Please advise.
I have US shares kept in a US trading bank and am thinking of transferring a small number of shares to my adult son to keep for at least 7 years in order to negate IHT. Is this also considered by the HMRC as cash giving or it has to be cash?
He will need to open a GIA account here in the UK like Trading 212 in order to initiate the transfer if it's allowed.
I have US shares kept in a US trading bank and am thinking of transferring a small number of shares to my adult son to keep for at least 7 years in order to negate IHT. Is this also considered by the HMRC as cash giving or it has to be cash?
He will need to open a GIA account here in the UK like Trading 212 in order to initiate the transfer if it's allowed.
0
Comments
-
You may trigger Capital Gains tax if they have increased in value.0
-
Yes I understand the CGT bit so it is acceptable to give away shares (as alternative to cash) for IHT reduction purpose?TheSpectator said:You may trigger Capital Gains tax if they have increased in value.0 -
It does not matter if you gift cash, shares, a herd of cows or any asset you own. The only thing to avoid is giving your home away as you would be maintaining a beneficial interest in that.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards