Hi,
I have a quick question about some CGT advice given to me by my wife’s company that I am not sure is correct.
The situation is my wife has been gifted some shares by her company as part of their IPO. She has paid a peppercorn for these so I believe they are all taxable as a CGT gain. The shares are currently worth 70k.
We are not in a hurry to sell the shares, so want to bleed them out using our CGT 12k allowances per year. It would be beneficial if we both could do this (enabling 24k a year tax free).
We have been told we can transfer some of the shares to my name via a broker transfer for a £100 fee.
However we have been told that this is unnecessary if wife sells 12k shares in her name, but asks for the proceeds to be placed in a joint Bank Account, effectively showing that proceeds of that sale have been gifted directly to me and therefore I could use my CGT allowance against them.
It is the second part of this advice that I am not sure is true? Can anyone confirm it before we go ahead? We just didn't want to make a mistake.
Thanks for the help in advance.
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