Capital gains question

Capital gains question

Postby taxingtax2011 on Fri Dec 16, 2011 12:30 pm

i sold my company in 2005 and was paid in cash and shares in the parent company that bought us.

i left the company in 2007 and forfeited 50,000 shares. (bad leaver)

i have now sold all my shares in the company and have some CGT questions.

1) can i get any tax relief on the shares i forfeited and offset same against the shares i sold?

2) the shares i sold now were about 20pence below market due to lack of liquidity etc. is this considered in any shape or form a loss? and does it affect my CGT liability?

also was wondering - these were shares i got as part payment for the company so although i didnt pay for them there was a nominal value at that time as the company that bought us was stock listed.
Now i have sold at below that value so does that impy a loss and hence no cgt?

your thoughts please!!
taxingtax2011
 
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Re: Capital gains question

Postby maths on Fri Dec 16, 2011 8:59 pm

1) can i get any tax relief on the shares i forfeited and offset same against the shares i sold?


What do you mean "forfeited" ?

2) the shares i sold now were about 20pence below market due to lack of liquidity etc. is this considered in any shape or form a loss? and does it affect my CGT liability?


Not a loss; you sold for the price you received.

also was wondering - these were shares i got as part payment for the company so although i didnt pay for them there was a nominal value at that time as the company that bought us was stock listed.
Now i have sold at below that value so does that impy a loss and hence no cgt?


The shares issued to you in the acquiring company would take on a base cost which was determined by the original base cost of the shares which the company acquired (in essence any gain you made at that time was probably "rolled-over").
maths
 
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