selling shares and tax

[GAQuinn]

just wondering if anyone in the know might be able to offer general help - is there a threshold under which you dont have to pay capital gains tax?

sold a v small amount of shares in company i work for, got about 800 quid - do i still need to speak to john q taxman?

i thought i'd get money from company through payroll and taxed there but obv not, the broker is sending a cheque

cheers for any help given

[Cock Of The North]

Originally Posted by GAQuinn

just wondering if anyone in the know might be able to offer general help - is there a threshold under which you dont have to pay capital gains tax?

sold a v small amount of shares in company i work for, got about 800 quid - do i still need to speak to john q taxman?

i thought i'd get money from company through payroll and taxed there but obv not, the broker is sending a cheque

cheers for any help given

Ask the Broker Shirley.

[mal]

Nowt to worry about if its only £800 - Forget what the threshold is now but you have to make over £5000 profit or summat before your liable to pay any CGT

[GAQuinn]

ta both

[EDGE]

Annual Exemption £10,100

http://www.hmrc.gov.uk/rates/cgt.htm

[mal]

Just checked & you have to exceed £10000 profit over what you paid for them before you're liable
Shite! -Beaten to it