I own some ordinary shares in a company I work for who will likely sell next financial year.
If the government increases CGT to income tax levels I will have a hefty bill to pay.
1. Can I sell the shares to my partner to realise a 20% gain this year?
2. Does she actually have to transfer the full amount of money to me or could I settle for an IOU? (Obviously I have to pay the tax man).
3. Can she then sell the shares back to me at a later date but in time for the sale? If so after how long? Any problems with this?
4. Or would a gift be better?
5. if I was to then get married to her would she then be able to more easily sell or gift the shares back to me in time for the sale? If so after how long? Any problems with this?
Thanks for helping me keep more of my retirement fund.
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