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• # 82257
• Tue 24 Apr 2012 04:19 PM

Hi,

About 15+ years ago I worked for an American company & got the opportunity to buy shares at a preferential rate.  I recently sold these to help fund my studying & building of my practice - do I need to include this sale on my self assessment as additional UK income & if so, how much is liable for tax?  The shares were in USD, there was a fee for selling them & there was also a bank charge to exchange into GBP.  Or woud the sale of the shares be classed as the sale of an asset under captial gains so would not liable for tax as any gain was less than £10, 600?

Any help would be greatly appreciated.

Thanks in advance,
Jo       

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• # 82265
• Tue 24 Apr 2012 08:44 PM

Hi,


A disposal of shares would be returned under the Capital Gains Supplementary pages of the self assessment tax return, if a chargeable gain was made. That is a gain of more than your annual exemption.


Any expenses incurred during the aquisition of the shares and the disposal are also deductable when calculating your chargeable gains. 

However if your  chargeable gain was less than the annual exemption, then you do not need to make a return of the gain on your tax return.


I hope this helps!


Best wishes


Rosemary      
     

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• # 82274
• Wed 25 Apr 2012 08:27 AM

Rosemarysaid:

“Hi,


A disposal of shares would be returned under the Capital Gains Supplementary pages of the self assessment tax return, if a chargeable gain was made. That is a gain of more than your annual exemption.


Any expenses incurred during the aquisition of the shares and the disposal are also deductable when calculating your chargeable gains. 

However if your  chargeable gain was less than the annual exemption, then you do not need to make a return of the gain on your tax return.


I hope this helps!


Best wishes


Rosemary      
     ”

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