Kerry group certificate

M

Murky18

Registered User
Messages
12
Hi all

My elderly parents own kerry group shares jointly. They are in paper form and now want to sell some. They also have the co-op but want to keep those. Does anyone know what is the best and most tax efficient way of going about it.? I presume the gain is calculated at 100% profit as these were basically given to farmers back in the day.
Any similar outcomes welcome.

Many thanks
Murky
 
Purely in terms of tax efficiency, the co-op share redemption scheme might be suitable. It's treated as a distribution, so subject to income tax rather than capital gains. They could sell enough each year (while the scheme lasts) to bring their income up to the tax free limit.

They should seek tax advice. Any busy farm accountant should be dealing with this question several times a year.
 
Thanks red onion, I believe Co op shares are only allowed to sell a few times a year. They want to liquidate some of the group regardless. From other threads I think Davy and Goodbody are the options.
 
Ah, I focused on the tax efficiency side.

Yes, if they want to sell Group shares regardless of the tax treatment, the mechanics are straight forward. Open an account with Davy or Goodbody, and 'lodge' the share certificate. The broker will convert to digital form, so its then ready to sell any number of shares instantly whenever they want. Just look at the ongoing quarterly fees of having an account with broker.
 
You must log in or register to reply here.
Back
Top