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Capital Gains Tax

korec · 2013-05-08 18:22:10

If someone inherits shares and initially pays capital gains tax on that inheritance and then the share price doubles its value after an amount of time, do you pay the full amount of cgt on the value of the shares if you want to cash them in? Or is it just taxed on the amount of money on share value gain since it was…

08-05-2013 6:22pm

#1

korec

Registered Users, Registered Users 2 Posts: 32 ✭

Join Date: October 2011

Posts: 25

If someone inherits shares and initially pays capital gains tax on that inheritance and then the share price doubles its value after an amount of time, do you pay the full amount of cgt on the value of the shares if you want to cash them in? Or is it just taxed on the amount of money on share value gain since it was inherited? Not familiar with the system so apologies if thats a stupid question to ask

Thanks

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#2 09-05-2013 3:37pm

roro2

Registered Users, Registered Users 2 Posts: 412 ✭✭

Join Date: February 2012

Posts: 405

From what I remember, you pay Inheritance Tax on the initial transfer into your name. CGT is then payable on the increase in value from the time of the initial transfer to the time the shares are sold.

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