CGT on sale of shares

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August 5, 2020 at 12:22 pm #579330
thnguyen
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Hi

I have a question. So if the employee is rewarded with shares and pay income tax & NIC on the grant of free share.

Would the amount of tax paid be deducted from the proceeds if he were later to sale the shares (for CGT calculation) – as the cost of share acquisition?

Many thanks

Trang
August 12, 2020 at 8:41 am #580206
Tax Tutor
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Share schemes are not within your syllabus but any income tax or NIC paid would not be allowable deductions in computing a chargeable gain
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