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Can DH transfer US shares to me?

(15 Posts)
savtara Sat 21-Jan-17 09:01:20

That's it really - DH pays top rate of tax, whereas I pay none as I earn under lowest threshold.

If he transfers his US shares to me so I can sell them, what are tax implications of the transfer - does anyone know?

savtara Sat 21-Jan-17 14:15:19

Bumping for the post lunch crowd... 😀

tribpot Sat 21-Jan-17 14:25:15

How much does he stand to make in profit when the shares are sold? There is an annual tax-free allowance so it may be that he can dispose of some before April and some after without hitting a tax threshold.

He should have a look at the information on Capital Gains Tax.

dontcallmethatyoucunt Sat 21-Jan-17 22:28:04

In the UK you can gift anything between spouses without any tax implications.

savtara Sat 21-Jan-17 23:41:20

Dontcall I love your name 😲😂

Thank you for the responses.

So ... are there any tax implications when he converts the shares from stock options?

dontcallmethatyoucunt Mon 23-Jan-17 21:01:13

The irony appeals to me grin

Well if he can transfer to you as a gift without reservation, then all good. If however he has to exercise an option first, he will need to check the rules that apply to his transaction.

snowman1 Mon 23-Jan-17 21:19:43

Hi don't cAll me is right about the uk rules interspouse is tax-free. But are you uk resident? Are the shares in a
Private or listed company? Stock options usually have strict
Rules, and are usually granted because you are an employee/partner in the company. It
Wouldn't be usual to be able to transfer them to a spouse. There are normally tax implications on exercise of stock options, but they can sometimes be deferred. He would really need specialist advice could his hr dept help? Most accountants hate seeing us stocks coming to be honest, the IRS seems to make it awfully difficult for
Overseas shareholders, I have always found them to be an administrative nightmare!

savtara Tue 24-Jan-17 17:03:11

I was trying to avoid getting in help just because of the hassle.

U.K. resident - so it's fine to give the listed shares to a spouse then... wondering if the same is true of the shares are US options / shares...

I will ask around, thanks

InMySpareTime Tue 24-Jan-17 17:14:53

My DH is trying to give me some of his shares, apparently they can stay in the same share account as long as he writes me a letter to the effect that he is giving me the shares unreservedly and will hold them in his account awaiting my instructions for them. (Need to check wording though).
We tried actually transferring the shares and it's a massive faff. You can't change both broker and name, so it would be 8 weeks to transfer to a UK account in his name then a few more to change to my UK share account. Given the shares are due a buyout in a few weeks we chose the letter option!

dontcallmethatyoucunt Tue 24-Jan-17 17:17:22

I find 'man down the pub' is often fatally flawed advice. I've heard all sorts of shite quoted to me on that basis over the years. I would pay and get someone, who if wrong, is liable

US listed shares not an issue - just had a client gift her husband a load to utilise his CGT loses. How are they held though? If it's not completely vanilla, do anything the IRS has a say on with caution.

FuckOffDailyMailQuitQuotingMN Tue 24-Jan-17 17:20:43

I use a great tax advice service for US/UK stuff- we had a capital gains nightmare situation on selling a house in the USA.

VimFuego101 Tue 24-Jan-17 17:22:47

Even if there's no U.K. tax implications I believe any loss/ gain will have a US tax impact. Does he file US tax returns?

FuckOffDailyMailQuitQuotingMN Tue 24-Jan-17 17:26:00

dontcallmethatyoucunt Tue 24-Jan-17 17:28:54

US listed, held in U.K. account I should have added.

kath6144 Thu 26-Jan-17 12:00:02

Op I had shares in my employers scheme - again a US company but european employees (I am UK based) had their shares registered in a Netherlands subsidiary.

I bought 2 lots in early 2000s and had 2 small amounts given as bonuses.

A colleague told me about option to transfer half into my DHs name and I did that in 2015. I was starting to look ahead to retirement as a few colleagues were selling their shares annually for that reason

However, the company were bought out last year and the buyout price gave us a massive profit on original purchase. I am so glad I had put them in joint names, as the CGT liability will now be shared between the two of us.

I think your DH will need to check that he can transfer half to you, but we didnt have a problem.

Also, if you are going to sell them anyway, he may be better selling them off each year, keeping within the CGT limit. This wasn't an option for us, we could only sell when leaving company, ahead of retirement, or in exceptional circumstances which meant employee needed money eg bereavement.

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