RE: How will it pan out?7 Oct 2020 19:22
Arsenalles, how much is the gain in each share account? If the shares cost £12k in each account, takeaway the sales proceeds = your basic gain, adjust for losses crystallised from other shares (including brought forward) and add any gains on other shares in the year. You will have your net gain. If this is below £12,300 nothing to worry about otherwise tax return it is. if you have both used up the gains allowance of £12,300 each then no point in transfer unless one is a higher rate tax payer and the other a basic. Higher rate pay cgt@20%, basic rate @10%. I would suggest speaking to an Accountant rather than this BB. You cannot risk an incorrect declaration.