CGT and shares at less than market value

Dottie
Dottie Feels At HomeRegistered Posts: 99
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!


Comments

  • villapb
    villapb Trusted Regular Registered Posts: 357
    It will be market value as he is classed a connected to his company........
  • villapb
    villapb Trusted Regular Registered Posts: 357
    Shouldn't have paid NIC though if it was an unquoted company, ie shares not readily convertible..........
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