FIL’s shares

[Doseydots]

My father-in-law has shares which he is wanting to sell and give some to dh and bil.

What would the tax liability in doing this please ?

He would have to pay Capital Gains Tax on the difference between the price he paid when he bought them, and the value when he sells/transfers them (guessing that he will transfer them into his sons names, rather than actually sell them?)

Each person has a CGT allowance (currently 12k) per tax year, so he would be wise to transfer a given amount this tax year, and some in other tax years, if it’s likely he will pay CGT.

The link below gives info on how much he would pay above the 12k allowance.

www.gov.uk/capital-gains-tax

Thank you for your help. He’s had these shares forever and they are a good price at the moment.

He was thinking of selling them and then giving the money to his sons.

So my advice would be to sell in batches each tax year, so his gains don’t exceed 12k/year. If he is quick, he can get one sale in before 6th April and then one after.