So I own some shares which look like they could be earning over the tax-free allowance and just seeing if anyone can answer this.
If I bought £5k of shares and selling now all would make £40k I think this year I can sell £17k worth this tax year without paying tax (£5k bought+£12k gained)?
Can I transfer some of the shares to my wife and she can sell them under her allowance? Is there a limit you can gift?
When she receives the shares and sells straight away does that mean her gain is actually near to zero, in other words could I gift the remaining £23k worth of shares to sell without her paying gains tax.
As in the £23k of shares holding went up to be worth £24k before selling her gain is £1k?
Or is the gain to her based on the price I paid for them, and she could only sell £17k worth (having gained £12k)?