Regarding capital gains tax?

hi can someone help with this question. i have approx £50000 worth of shares to sell. i know cgt thresh hold is £9600 per year and i can transfer same into spouses name, but for the ...show more
Answer:

You should have transfered these into a share ISA at the rate of £7k per annum times two because your wife could have had one as well. It would have been accomplished in 3 years. However, if you want to sell now calculate the gain and sell in small tranches - transfering some in your wife's name ensuring that the £9,600 allowance for both of you is not breached

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Other answers

You only pay tax on the gain, ie the differnece between the purchase price and the selling price. You could stagger your sales so that you dont go over your annual allowance each year.

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