Cashing in my shares

Samijane9966

I have 600 Lloyds Bank shares that I was given as part of the takeover with TSB back in the early 90s. I want to sell them and I've been offered a price from Lloyds Bank themselves which I'm happy to accept but I wanted to know am I going to be liable for capital gains tax even though the amount is less than £800 . if not do I need to declare the 800 pounds on my tax return and will it be added to my interest on savings etc or is it a totally separate category.

RacingDriver

In the current tax year you have a Capital Gains Tax allowance of £3,000. This is on the gain, not the sale price, so less than £800 will clear be below this no matter the gain

You only have to report CGT on self assessment tax return if the gain is over the £3k allowance, or total gross sales are over £50k, neither of which apply here

eskbanker

You have an annual CGT allowance of £3K so gains below that don't incur tax, and yes, CGT is unrelated to tax on savings interest.

Perhaps worth reading this thread about how to sell cost-effectively:

https://forums.moneysavingexpert.com/discussion/6687127/selling-lloyds-shares

DRS1

If someone is offering you £800 for 600 Lloyds Bank shares then something is wrong somewhere. The price is just under 103p per share.

wmb194

https://forums.moneysavingexpert.com/discussion/6687302/cashing-in-my-shares

Lloyds Bank won't be offering you a price. As per the thread linked above, was this a letter from Lloyds' registrar Equiniti offering to sell them for a fee of 6p per share, max £25?