Re: CGT
Hi Mr Lawlor
As a general rule, don't expect to get advice on AAM about how to break the law and evade taxes. It strikes me that your friend is playing a dangerous and immoral game. To me, I have a moral obligation to pay taxes due to me based on the laws of the land. The liklihood of 'getting caught' is irrelevant. If you do choose to avoid taxes due, then please also choose to never complain about health service, education, crime, the economy and all those other things we expect the Govt to manage.
On the other side of the coin, just think of all those off-shore account holders who went round in the eighties boasting to their buddies that they would never be caught. They are now facing punitive tax bills including penalties and interest as well as public disclosure/shaming.
On the more practical issue, you should consider how you acquired your shares. If you got them through an employee purchase or grant scheme, it is very likely that your employer gave details of this scheme to Revenue each year. I know of at least one case where Revenue are chasing one individual for CGT tax due from a case like this.
If your CGT liability is £1,500, then your gain must have been somewhere around £8,500 - Do the decent thing and pay up to Revenue. You'll sleep a lot sounder as a result.
Regards - RainyDay