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  • RE: Gifting shares

    Thank you, I appreciate the response and I understand the principle. Is there an HMRC document that describes what is acceptable? "Similar to a deed of trust" could be open to interpretation and I want to make sure I do it properly for Self Assessment.
  • Gifting shares

    Hello, What is the simplest way to demonstrate that one has gifted shares to one's spouse? My spouse does not have a brokerage account in the relevant jurisdiction so I would like to sell her shares in my account, but want to be able to demonstrate clearly that they are hers and that the capital gain is hers. Thank you.
  • RE: Interpretation of RSU Date Acquired for Same Day Sale GCT Matching Rule

    Thank you HMRC Admin 25, I think ERSM20420 gives me the guidance I need, particularly the part you mentioned. The reason for the delay is that my employer and the broker automatically sell a portion of the RSUs on Vest in order to withhold part of the value for Income Tax. Income Tax is handled by my employer. This shows in my broker records as a "Sell To Cover" transaction that seems to take 2 to 3 business days to complete. I can't sell the remaining shares until that transaction has completed - they aren't there in the broker account for me to sell despite having Vested 2 to 3 business days earlier. Thank you.
  • RE: Interpretation of RSU Date Acquired for Same Day Sale GCT Matching Rule

    Hello Admin 25, Thank you for the info. My question is specifically about the interpretation of dates in the GCT scenario. There is no issue with Income Tax and P60 entries. Could you please recheck my question and re-answer? I can state my question a little differently if it helps: You say "It is only if you retain the stock units after they vest that capital gains tax may be payable". This is a common way to state things, however often the recipient cannot actually action the stock on the Vest Date and so I am seeking clarity on how that scenario is treated. In the scenario where I have sold the stock units as quickly as I can (2 to 3 business days after the vest date), are they treated as a Same Day Sale for GCT matching rules? I contend that in the case where a person cannot sell stock until 2-3 days after the Vest Date that the date acquired per would the the first day they can sell the stock, not the Vest Date. This is important because, per that document, "If there is an acquisition and a disposal on the same day the disposal is identified first against the acquisition on the same day, TCGA92/S105 (1)(b)." Clarity on this is key to working out the costs for CGT.
  • Interpretation of RSU Date Acquired for Same Day Sale GCT Matching Rule

    I am in receipt of RSUs from my employer. They and their appointed broker use a “Sell To Cover” method to deduct and pay Income Tax at the Vest Date. I am able to sell the resulting shares following the settlement period after the Sell To Cover on the Vest Date. Typically this is 2 to 3 business days. Question 1: If I sell the remaining shares on the first day that I am able to, is this considered a “Same Day Sale” per the CGT matching rules? Question 2: How would I demonstrate that I have performed a “Same Day Sale”, given that the broker records I receive refer to the Vest Date? I do not receive a specific report that states when the shares are actually sellable, I have to simply have to monitor over the 2/3 day settlement period.