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Sam, Accountant
Category: Tax
Satisfied Customers: 14195
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I took part in a Save scheme through work, which

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I took part in a Save scheme through work, which ended in 2013. I opted at that stage to buy the options, but left the shares with the company that manage the scheme, so the shares are essentially just waiting to something with.
The current value of the shares is about £15k, over the current CGT limit. Separately, I have a share trading ISA account within which I've bought shares before, but haven't paid into this year.
I'd potentially like to sell the shares - what's the most tax-effcient way of going about this? Can I/should I sell £11,000s worth before April and then sell the rest next tax year? Would that be possible and would I have to complete a self-assesment to do this?
Or can I somehow transfer the shares into the ISA account and then just sell them?

Thanks question, I am Sam and I am one of the UK tax experts.
You advise that the value of the shares is about 15K - have you taken into account the price you paid - as you are only considered liable to tax on the "profit" you make.
If this has been taken into account, then yes you can sell up to £11K before 05/04/2015 and then sell the remainder after 06/04/2015
OR yes you can transfer these shares into an ISA - without there being a tax charge arising. However this has to be done within 90 days of buying the shares and the ISA providers agreement and I get the impression that its more than 90 days since these shares were purchased? So this may not longer be an option.
Customer: replied 3 years ago.

Thanks, ***** ***** point. I paid £9k , so there's about £6k profit...

Thanks response
Then there is no capital gain as the profit is below £11K!
Let me know if you require anything else, but it would be appreciated if you could rate the level of service I have provided.
Customer: replied 3 years ago.


Would I have to submit a self-abasement to declare the income, or not as it's below the threshold? I don't normally...

Thanks response
Only if you have other capital gains which tip you over the threshold, when added together - or have a capital loss that you want recorded with HMRC.
But if this is your only gain position to consider then this need not even be reported to HMRC
Customer: replied 3 years ago.

Thanks. Last thing then - what's a capital loss? What does that mean in real terms?

When you have purchased an asset or shares - and then when you come to sell them - they are worth less than when you purchased them or with costs to buy and sell you end up with a lesser figure than what you bought for. This is known as a capital loss.
Capital losses can then either
1) Be offset against a gain also arising in that same tax year (to reduce the amount liable to capital gains) OR
2) Be carried forward to use against any future capital gains
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