Hi there, hope someone can help with my little problem as I have been scouring the web looking for answers with no definitive results!
Here's the problem:
My company has been taken over meaning that all three of my SAYE schemes taken out over the last two and a half years must be excercised before the 3-year maturation date. I see from the SAYE guidelines from HMRC that any profit I make on exercising my options early to buy shares will result in income that will be liable to income tax. Is there any way whatsoever that I can legally avoid the income tax (as a higher rate tax payer, I don't fancy losing 40% of my profit - if it is unavoidable, however, so be it!?
Incidentally, through choice, I will be leaving my current company to start work with a new company in two months' time. Does this make any difference?
I understand that putting the shares straight into a mini stocks and shares ISA will not allow me to avoid the income tax (the total will be within the £4k limit unless the share price rockets within the next few months!). I am married, so can I pass the shares onto my wife to avoid the tax?
Any advice gratefully received and many thanks for taking the time to read my lengthy query.
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch