CGT on shares

[HowMuchLonger]

Are there any tips on minimizing any cgt due upon the sale of shares. I am looking at (for me) a significant sum with a huge roi I would even consider non dom status if it would help.

Thank you.

[Mx_Stu]

Do you have a wife? Transfer enough shares to her to utilise her annual exemption as well as yours.

Are you able to stagger the disposal to straddle two tax years and thus use two years annual exemptions.

[HowMuchLonger]

Whilst your suggestions are very good, it is not quite what I am looking for. The sums are significantly over the exception levels, hence my looking for help.

[Eric Mc]

What types of shares are they i.e. are they just normal PLC type shares or are they shares you own in a small owner managed trading business?

[HowMuchLonger]

Shares are in an aim listed company...

[Eric Mc]

Not one in which you were a controlling investor, manager or employee?

[anonymous-user]

could you and would you physically leave the country for a year or five?

here is the simplest outline of the type of thing you could consider (scroll down to the capital gains section)

http://www.hornbeam-accountancy.co.uk/?page=11275

[HowMuchLonger]

Eric Mc said:

Not one in which you were a controlling investor, manager or employee?

No to all, but may end up as employee. Would that change things?

[Eric Mc]

HowMuchLonger said:

Eric Mc said:

Not one in which you were a controlling investor, manager or employee?

No to all, but may end up as employee. Would that change things?

I was just looking at whether Entepreneur Relief might apply. I don';t think it would, ion these circumstances..
Could you dispose of your piecemeal shares over a number of tax years?

[Biggles111]

Other than the suggestions above if you are non resident for tax purposes at the point of buying the shares, and at the point of disposal then you might avoid tax. Not 100% sure on this though, as the advice I got related to options received in the course of offshore employment and so would have fallen under income rather than CGT.

Edited by Biggles111 on Sunday 28th November 09:41

[surrey7er]

Is there still any indexation available or did Labour ditch that??

[HowMuchLonger]

anonymous said:

[redacted]

This is not my company. I bought the shares in the market.

I have no accountant.

My purchase was based on an (in my view) strong management team.

Return is now in the 1000's of percent.

I expect I now have a cgt exposure of several hundred k, I am therefore very eager for some advice.

I am an independent trader not involved with the company.

[Eric Mc]

If the gains are of that magnitude, you should be seeking good advice from specialists - and be prepared to pay for it.

[HowMuchLonger]

Eric Mc said:

If the gains are of that magnitude, you should be seeking good advice from specialists - and be prepared to pay for it.

Can you recommend any? I know people who use Smith and Williamson, would they be okay.

Tonker, with respect to which company........I have been actively trading to give me that roi, actual share price increase is in the region of ........not giving any more away, apart from I may be joining them in the near future, and am exited by how much I can learn.

Edited by HowMuchLonger on Wednesday 29th December 19:10

Edited by HowMuchLonger on Wednesday 29th December 19:20

[Hyper10]

What you need is a Tax Barrister not an Accountant. However probably too late since I know from bitter experience its all about pre planning. Also forget Nom Dom, the chances of tis happening are so remote and anyway if money in UK whats the point.

HowMuchLonger said:

Are there any tips on minimizing any cgt due upon the sale of shares. I am looking at (for me) a significant sum with a huge roi I would even consider non dom status if it would help.

Thank you.

[F458]

Look in to Renumeration Trusts - I am!!

[NDA]

Eric's your man on here.... However, if you've held the shares for a couple of years, don't you qualify for taper relief? That's aimed at Eric really.

Could you transfer the shares to a company owned by you and take a dividend or loan? Probably not I suspect.

As previously advised, you need professional advice - the revenue are increasingly hungry for cash so you need to be very careful.

[Eric Mc]

Taper Relief abolished 6 April 2008.

[HowMuchLonger]

Thanks for your replies.

The answer for me is too pay the £x00,000 in capital gains on the rise so far. Then transfer it all into a pension, and borrow money against the pension when needed.

Damn taxes,