Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

CGT query - selling shares

  • 29-04-2016 9:54am
    #1
    NEDDURC
    Registered Users, Registered Users 2 Posts: 452 ✭✭


    Hope people can help with this question.

    If I own shares in my own name but set up a joint account with my wife with Goodbody (for example) and sell the shares through the joint account can myself and my wife then each claim the annual 1,270 exemption and split the proceeds 50:50?


Comments

  • #2
    KlausFlouride
    Registered Users, Registered Users 2 Posts: 198 ✭✭KlausFlouride


    Don't think it works like that. You own the shares, so the construction around selling the shares I don't believe is relevant;

    What you could do is transfer the shares to your wife.


    If I transfer an asset to my spouse or civil partner do I have to pay CGT?
    No, when the asset is transferred it is treated as if no gain/no loss occurred on the transfer; the benefiting spouse or civil partner inherits the base cost and period of ownership from the spouse or civil partner making the disposal. In the event that the benefiting spouse or civil partner subsequently disposes of the asset the original base cost and period of ownership is used to calculate any gain arising. See also the question below. (Transfers between spouses or civil partners are taxable, if the benefiting spouse or civil partner is non-resident in the year the transfer takes place.)


Advertisement