Tax advise14 Dec 2019 20:54
Hi Guys, Apologies for using this BB for seeking advise but I know there are lot of users who are very knowledgable here about this, probably some of them working in finicial sector / accountants.
My wife had SAYE plan with her employer which is matured recently. She transfered her shares into her ISA to max out her allowance and now she still have some left. What would be best way to move this shares into tax efficient way.
1. If she transfers those additional shares to me as gift and I can move them in to my ISA. Will that incur CGT when I move those gifted shares into ISA if it goes over £12K allowance? Normally CGT is only incured on the profit but how does that work on gifted shares?
2. Is it better for her to sell the shares (will that incur CGT?) and then I can buy then seperately into my ISA. If CGT is incured, will she pay CGT on the price difference of SAYE award and selling price? I am not sure how this can be calculated as the shares have been trasnfered from SAYE broker to external broker.
Any advise would be appreciated. Thanks,