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Where Taxpayers and Advisers Meet

Finding a creative CGT expert - Wealth manager?

jdery2024
Posts:1
Joined:Wed Aug 14, 2024 7:47 am
Finding a creative CGT expert - Wealth manager?

Postby jdery2024 » Wed Aug 14, 2024 7:54 am

I'm about to sell some unlisted shares for a relatively sizable sum (~1m). I'm looking to speak to someone who can help me minimise the CGT in creative (but legal) ways. I'm ok with it being avoidance but not looking to break any laws.
How do I go about finding such people?

AGoodman
Posts:1848
Joined:Fri May 16, 2014 3:47 pm

Re: Finding a creative CGT expert - Wealth manager?

Postby AGoodman » Fri Aug 16, 2024 10:32 am

Most chartered accountants should be able to help. It is a large sum for you (and most people) but not that large in general.

You basically have a choice of:

BADR to reduce your CGT rate if you work in the business and hold at least 5% (or the shares come from an EMI)
Investing in a tax beneficial way (EIS, SEIS, VCT). These offer tax relief but carry investment risk. You would probably need an IFA for this.
Invest in other qualifying business property (including satellites) and defer the gain with rollover relief (obvious investment risk)
Become non-resident before you make the gain and stay non-resident for over 5 years. Pay no UK tax but miss blighty.

darthblingbling
Posts:730
Joined:Wed Aug 02, 2017 9:09 pm

Re: Finding a creative CGT expert - Wealth manager?

Postby darthblingbling » Fri Aug 16, 2024 10:52 am

The last one comes with a caveat that tax may be due in the host country, so would need separate advice


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