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Where Taxpayers and Advisers Meet

Avoiding Double Taxation with Family Share Scheme

CoderScribe
Posts:1
Joined:Wed Oct 28, 2020 9:35 pm
Avoiding Double Taxation with Family Share Scheme

Postby CoderScribe » Wed Oct 28, 2020 9:39 pm

Hi guys,

My brother has a share scheme at work but can't afford to max-out his monthly allotment so I'd like to prop up the cash for him. However, my money will have already been taxed and when he eventually cashes out the shares they'll be taxed again.

Am I right here and if so, what's the correct way to declare the initial loss to avoid double taxation?

Many thanks

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