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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13978
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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How much do I have to pay tax on transferring my holding of

Customer Question

how much do I have to pay tax on transferring my holding of US Goldman Sachs shares? I own around $100,000 US Goldman Sachs shares, and would like to transfer my sole ownership to a joint ownership with my husband. If I do so, is it classified as gift giving and how much tax do I have to pay? or up to how much gift giving to my husband in terms of shares holding can I do without paying tax?
Submitted: 4 months ago.
Category: Tax
Expert:  Sam replied 4 months ago.

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Expert:  Sam replied 4 months ago.

Hi

Thanks for your patience

In the UK there is no tax to pay (usually it would be capital gains and a consideration as a potentially exempt transfer for Inheritance tax purposes ) but as you are making the gift transfer to your husband this has no affect for capital Gains or future Inheritance tax but you may wish to check the USA position as we are just UK tax experts here on the UK tax side of Just Answer.

Thanks

Sam