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Account sharing issue.
My partner has a number of shares in my trading account worth 12k, having doubled in value.
Could I sell an equivalent number of shares in my ISA account and give her the full amount and her be free of any tax burden?
Comments
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No...…you are the one liable for CGT
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ISAs are tax free and so is gifting. However, this solution doesn't address the problem of you then having £12k of shares which would give you a tax burden if you sold them.
Ultimately anything in a trading account in your sole name is by default legally yours anyway, so she wouldn't automatically have a tax burden if you sold the trading account shares, you would.
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Sell enough to realise a £3000 gain this tax year and next.
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Get married and you can transfer across to her free of CGT. Might be excessive action when you can get the whole lot tax free yourself this year and next assuming you have no other gains.
Remember the saying: if it looks too good to be true it almost certainly is.0
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