dear all,
My parents inherited 600 shares in a large drinks company few years ago. The shares were about Euro10.00 on inheritance and now they are trading around Euro21.00. The shares are held in their joint names.
My parents would like to dispose of these shares in a tax efficient manner.
If they were to gift the shares to me I know I would be liable for the 1% stamp duty but would they be liable for CGT on current value of the shares (approx Euro 6500)?
Alternatively, would they be best advised to sell the shares themselves through some low cost share dealing service over a two/three year period thereby taking advantage of their CGT allowances?
If they go down this route with a low cost share dealing service - would they have to open an account or would they simply provide the share cert, say sell 150 shares and then a new share cert be re-issued to them for the balance of 450 shares?
thanks loads,
Gallogly
My parents inherited 600 shares in a large drinks company few years ago. The shares were about Euro10.00 on inheritance and now they are trading around Euro21.00. The shares are held in their joint names.
My parents would like to dispose of these shares in a tax efficient manner.
If they were to gift the shares to me I know I would be liable for the 1% stamp duty but would they be liable for CGT on current value of the shares (approx Euro 6500)?
Alternatively, would they be best advised to sell the shares themselves through some low cost share dealing service over a two/three year period thereby taking advantage of their CGT allowances?
If they go down this route with a low cost share dealing service - would they have to open an account or would they simply provide the share cert, say sell 150 shares and then a new share cert be re-issued to them for the balance of 450 shares?
thanks loads,
Gallogly