CGT and sale of shares: I've forgotten....
Monsoon
FMAAT, AAT Licensed Accountant Posts: 4,071 ๐ ๐ ๐
I'm normally a business tax bod, but my parents have disposed of some shares and want me to do the tax return 0708.
It's been a while since I studied shares and while I'm happy enough I'd appreciate some reassurance and/or correction/ slap with trout around face:
- Indexation does not apply - taper relief does (shares held after a certain date, I forget when but it's after the date).
- Mrs 9 transferred some shares to Mr 9. These are transferred at nil gain nil loss.
- Anything transferred into an ISA is protected once there (what if they were not in an ISA to start with?)
Shares were by way of Mrs 9's employment and bonus/ rights issues were involved. Am happy with this. Am I right in thinking I should look at total shares and costs per year (as TR applies not indexation)? I don't need to do an analysis every time shares were issued.
Thanks folks. Will pay to subcontract this out if absolutely necessary but I should be able to do it myself I hope :001_smile:
It's been a while since I studied shares and while I'm happy enough I'd appreciate some reassurance and/or correction/ slap with trout around face:
- Indexation does not apply - taper relief does (shares held after a certain date, I forget when but it's after the date).
- Mrs 9 transferred some shares to Mr 9. These are transferred at nil gain nil loss.
- Anything transferred into an ISA is protected once there (what if they were not in an ISA to start with?)
Shares were by way of Mrs 9's employment and bonus/ rights issues were involved. Am happy with this. Am I right in thinking I should look at total shares and costs per year (as TR applies not indexation)? I don't need to do an analysis every time shares were issued.
Thanks folks. Will pay to subcontract this out if absolutely necessary but I should be able to do it myself I hope :001_smile:
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 234 NEW! Qualifications 2022
- 133 General Qualifications 2022 discussion
- 7 AAT Level 2 Certificate in Accounting
- 31 AAT Level 3 Diploma in Accounting
- 55 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 91 Software
- 272 Tax
- 135 Bookkeeping
- 7.3K General accounting discussion
- 201 AAT member discussion (AATQB, MAAT, FMAAT and AAT Licensed Accountants and Bookkeepers)
- 3.8K For everyone
- 39 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 586 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 47 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership