J4CKO

iTrader: (1)

Say I bought some shares via a work scheme where you put away a certain ammount each month over three years, say the shares went up in value and I wanted to dispose of them, they are liable to CGT I realise but I would want to split the profit 50/50 with the wife even though the shares were bought in my name, assume the profit in this example is £15,000.

How do I contrive it so I don't pay any CGT, at the moment it would be £882, I sell some one year and then the rest in the next tax year I guess but can I gift half of the profit to my wife and use her CGT allowance ?

How does the revenue get notified, simply by your tax return or dosuch trades get sent to them, not that I intend defrauding the revenue !

zip106

Spooky - I had this page open on the HMRC website - it may help you a bit, it's certainly its me.
http://www.hmrc.gov.uk/taxon/sale-shares.htm#1

dpb

your allowed about 8 k a year profit untaxed unless im wrong on shares

GlesgaKiss

It's gone up to 10k off the top of my head.

matt6666

You might find that as it's an Employee Stock Purchase Plan you have to pay income tax on the gain, not CGT.

The way my plan works is the profit I make gets processed through my wage slip and I pay PAYE income tax on it.

GlesgaKiss

Yes, from the above link "deducting from the total taxable gains left the 'Annual Exempt Amount' - for the tax year 2009-10 this is £10,100".

Wurzel

iTrader: (1)

Lucky you on only paying 900 quid on 15k. I cashed in my stock options last years and made just over 14000 euros, I paid 7k in tax on that.

andys

ours go into turst for 5 years so you dont pay anything

scud8

iTrader: (1)

Profits on employee stock options are taxed as income but an employee stock purchase scheme is taxed as a capital gain (assuming it is set up properly).

Dingdongler

As scud says there are different types of schemes, some are treated as income and some as capital gains for tax purposes.

My wife has had some of both, the income tax ones got taxed at even more than 40%, turned out to be 50% tax. Can't remember why....

Oh, and if you have any capital losses you can offset them against gain. If you don't, you can have some of mine, I have plenty

dpb

Iv made several hundered quid on Barclays going up and down , cheers Ding

LG John

I've been told somewhere between £10-11k before triggering CGT. One way to avoid it is to buy all of the shares you can within a share-dealing ISA. You can't do this will all shares though