What are my share options?
I have just exercised my option to buy shares in the company I work for. Is it possible to transfer some of these shares into an ISA without selling them? If so, how can I do this and would I then be able to sell some on the open market without paying capital gains tax? RC, Worcester.
Anna Bowes, independent financial adviser at Chase de Vere, says: Unfortunately you will not be able to switch some of your shares into an ISA without effectively selling them.
As for selling some of them without paying capital gains tax, you have a couple of options. You have a capital gains tax allowance of £7,200 in the current tax year which means you can sell some shares and use this allowance which may well mean you have no tax to pay. If you have already used your allowance totally or in part you can mitigate possible tax if you are married by transferring some of the shares into your wife's name in order to use her capital gains tax allowance n future sales. This transfer between husband and wife will not create a capital gain.
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