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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4983
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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cashing in shares and receiving £60,000what would i have to

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cashing in shares and receiving £60,000what would i have to pay in capital gains tax
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.
Hello and welcome to the site. Thank you for your question.
Please advise what your cost price of the shares sold was.
Many thanks
Customer: replied 3 years ago.

the shares are part of a trust fund the amount quoted are the book values given to me by the trustees i have an option of requesting the shares to be sold but need to know how much tax i will be liable for before agreeing

Expert:  taxadvisor.uk replied 3 years ago.

William, thank you for your reply. If the shares are held in a trust then the annual exempt amount for CGT purposes would be £5,500 and not £11,000 and CGT rate on the gain would be 28%. I hope this is helpful and answers your question. If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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