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TonyTax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am buying shares as part of share save scheme and I need

Customer Question

I am buying shares as part of share save scheme and I need to know about capital gains tax
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

Take a look here for information on your type of share scheme.

If you buy shares at the end of the term and then sell them you may pay CGT on the gain which is the difference between what you paid for the shares and what you sold them for. As of now, the first £11,000 of gains made by an individual in any one tax year are tax free.

There are two rates of CGT, 18% and 28%. The rate or combination of rates you will pay will be dependent on the level of your income in the tax year of disposal of the shares. Read about how CGT is applied here.

I hope this helps but let me knwo if you have any further questions.

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