Mike J

Hi, thank you for your answer - it is exactly the clarification I was looking for and I really appreciate your time in presenting it comprehensively and step by step. Thanks once again Kind Regards Mike

UPDATE: We were able to get the answer after all - spoke to someone on the phone and also had the answer given in another part of the forum. No need to reply. Many thanks Mike

Hi, My partner had shares through an employee SIP (a matched shares scheme). The scheme ran from 1996 to 2002 and then the company changed the scheme but the shares continued to be held there. Although she left the company in 2016, the shares continued to be held in the plan until this year when the company gave notice that the scheme would close. She was given the option of transferring the shares to a broker or simply selling them. She chose to sell them. Thinking she would have to pay Capital Gains Tax on the proceeds, she completed a CGT declaration and submitted it. However, now she's had chance to look into it more, she's not sure if the shares should have been subject to CGT, due to them being purchased through a SIP scheme. She's been trying to speak to someone on the phone at HMRC but just getting directed to Self Assessment and then a message saying the service is closed until September. Can you please help? Many thanks for your help Mike

Hi, My partner held some shares through an employee Share Incentive Plan (matched shares) and has sold them after the full five years had passed. I've searched everywhere, including the Tax Credits Manual to see if the sale of the shares should be included as income and can't find any guidance from HMRC. It appears that SIP shares are treated differently to other shares for tax purposes and the Tax Credits manual suggests this means the sale of them is not treated as income. Could you please advise or point me in the direction of where the legislation says if it's income or capital? Any help much appreciated Many thanks