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Sell shares quickly?

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Just received probate today and getting up to speed with how to distribute an estate. Believe the estate will have its own capital gains allowance of £3000 for this year to 5th April (and for the next 2 yrs). The estate contains some shares with a gain of about £1000 that I think it would be advisable to get sold before April 5th so that part of this year's capital gains allowance can be used and not wasted?
There are other shares that will take longer to sell, and could sell at a loss or gain in due course, so there is a risk of a gain in the next financial year exceeding the year's capital gains allowance hence resulting in a capital gains tax liability. Hence does it seem sensible to try to rush through a sale of the first pot of shares now to utilise some of this year's allowance while there is still time left hopefully? As I've only just got probate I'm still learning but think I see a window of opportunity in the next couple of weeks that I should try to use? Or am I mistaken?   

Comments

  • DippySkippy
    DippySkippy Posts: 63 Forumite
    10 Posts Name Dropper
    Seems a good idea - especially as I believe CGT allowance is going down in April
  • HappyHarry
    HappyHarry Posts: 1,813 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Just to check - you should be using the acquisition cost of the shares as the share price at date of death - not when they were first purchased.

    N.b. CGT allowances are not changing in April this year as the above post suggests.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
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