Transfering shares to children

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Sinosull

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My elderly father is currently trying to clear up his finances .(Ireland) He holds a small no. of shares in the likes of Aviva, Ryanair, BOI which he now wants to divvy up between 5 kids and transfer into our names. Would he have to go through a share broker (very expensive as far as I can tell given the low value of the shares) or can he just download share transfer forms and pay any Stamp Duty due? How/where do you pay stamp duty- is it via the revenue website?. Once he completes the forms does he send to Compushare etc or where are they sent?
 
From what hes told me I would think that the Ryanair shares are the only ones that have made any money and probably less than his cgt allowance. The boi shares were bought before the crash so losses there and I think the Aviva ones are also half the value they were purchased at so doubt there is any cgt to be paid. However, given the work involved I think maybe I'll tell him to just gift in the will.
 
Gordon Gekko said:
He’ll also have CGT to pay on any gains if he gifts the shares now (rather than passing them via his Will).
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Hi, Thanks for the response . Im confused as to why would he need to pay cgt if he's not receiving any financial gain? (he's not selling them just passing them to someone else and receiving nothing in return.
 
Sinosull said:
Hi, Thanks for the response . Im confused as to why would he need to pay cgt if he's not receiving any financial gain? (he's not selling them just passing them to someone else and receiving nothing in return.
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When you gift an asset you’re deemed to receive market value even though you don’t. It’s a deemed disposal at market value for CGT purposes.
 
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