CGT and shares at less than market value
Dottie
Registered Posts: 99 Regular contributor ⭐
A company director bought shares in his company at less than the market value in 2004. Tax and NIC was paid on the difference between what he paid and the market value. Shares sold in August 2012. For CGT purposes is the cost of the shares the market value and not what he actually paid for the shares?
Thank you!
Thank you!
0
Comments
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It will be market value as he is classed a connected to his company........0
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Shouldn't have paid NIC though if it was an unquoted company, ie shares not readily convertible..........0
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