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Share disposal question - company shares

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  • 24-03-2020 3:20pm
    #1
    Goose81
    Registered Users Posts: 4,170 ✭✭✭


    I have a questions about shares

    I have about 2k company shares that I have held on for 3 years and have matured so I can now cash them in and pay no tax , im only liable for tax on any gains they had since I acquired.

    They have been absolutely hammered recently down 50% would have been worth 4k and another option I have been given is to transfer them to another broker and sell them in the future. Does anyone know if the tax situation will stay the same, I assume transferring them to another broker is not a disposal as such and the tax situation will stay the same when I do dispose of them?

    I was just going to open up with a cheap online broker account and transfer to that but if its going to change the tax deal the there is no point..

    Thanks


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  • Options
    #2
    Shedite27
    Registered Users Posts: 9,363 ✭✭✭Shedite27


    Goose81 wrote: »
    I have a questions about shares

    I have about 2k company shares that I have held on for 3 years and have matured so I can now cash them in and pay no tax , im only liable for tax on any gains they had since I acquired.

    They have been absolutely hammered recently down 50% would have been worth 4k and another option I have been given is to transfer them to another broker and sell them in the future. Does anyone know if the tax situation will stay the same, I assume transferring them to another broker is not a disposal as such and the tax situation will stay the same when I do dispose of them?

    I was just going to open up with a cheap online broker account and transfer to that but if its going to change the tax deal the there is no point..

    Thanks
    You won't get charged income tax either way, the only difference is the CGT.

    Leave where they are, you won't get charged CGT if they move back to €4k.
    If you have them elsewhere it may be seen as a gain if they grow from €2k to €4k.


  • Options
    #3
    Goose81
    Registered Users Posts: 4,170 ✭✭✭Goose81


    Shedite27 wrote: »
    You won't get charged income tax either way, the only difference is the CGT.

    Leave where they are, you won't get charged CGT if they move back to €4k.
    If you have them elsewhere it may be seen as a gain if they grow from €2k to €4k.

    I would love to leave them where they are but Mercer wont hold them, they say I either have to dispose now in the next month or move to a different broker. I was going to set up a degiro account and use that but reading their faq im not sure they are appropriate broker to do this with..


  • Options
    #4
    mken24
    Registered Users Posts: 1 ✭mken24


    Goose81 wrote: »
    I would love to leave them where they are but Mercer wont hold them, they say I either have to dispose now in the next month or move to a different broker. I was going to set up a degiro account and use that but reading their faq im not sure they are appropriate broker to do this with..

    Hi there, I'm just after doing the same as you only I transferred them over to new broker without properly thinking about it (doh!). Did you end up transferring them in the end or did you leave them where they were? Regards, Ken


  • Options
    #5
    Alaninwondeand
    Banned (with Prison Access) Posts: 44 ✭Alaninwondeand


    Capital gains only on profits. If you pay 2k into shares and the 2k value turns into 3200 you still won't pay. I think your allowed 1200 per year and one you go over that you pay tax.

    If you take out 4k either way you would still "have" to declare it on your tax returns.


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