Tax advisor

[Fasterthan40]

We have some shares that have done very well and want to invest in a tracker fund. It’s more than ISA amounts. My friend who is an IFA, has suggested a tax advisor but doesn’t know anyone to recommend. How would I find someone good? I searched on here and can’t really find any suggestions. What kind of fee should I expect? Thank you.

I assume these shares are in a General Investment Account not a tax free wrapper like an ISA? Otherwise you wouldn’t need a tax advisor.

It sounds like your capital gain is more than the annual CGT allowance so I would suggest contacting a local accountant in the first instance as I recall the last time I used an in-person accountant they also provided tax-advice.

I imagine you will have a choice of either selling the shares progressively, at least enough for a £3k gain before the end of the tax year and £3k gain the year after. The other choice is to take the CGT hit and move it into Index Funds more quickly.

So each of you will have £20k ISA amount each year. You could also perhaps mitigate the CGT hit by putting more into a pension for tax relief or a LISA or pay off any debts.

What do you want the tax adviser to do?

thank you. They were shares given as part of compensation package- previously high earning job. Paid tax at the time but obviously since they have gone up, need to pay on the CGT. Just not sure of best way to do so. Approaching an accountant sounds very doable first step. Thank you

Tell me what to do - decision paralysis and fear of messing it up.