The text book question:
"Husband transfer his entire shares (20,000) to his wife on 05 May 2019, on that date the shares were valued £64,000.He originally bought the on 21 June 2016 for £48,000. Share are in an unquoted trading company.
Wife sold the share on 7 July 2019 for £70,000."
MY QUESTION:
I understand this in no gain/loss transfer. However, when wife sell the shares why she is not entile to investors relief?
I would thought because the shares were bought by husband more than three years ago, and are in the unquoted trading company, it should be.
Many thanks Anna
Ask the Tutor ACCA TX-UK
Individual capital gain
Hi,
For investors relief to apply, the shares should be subscribed by the person selling it, on or after 17 march 2016 in an unquoted trading company and held for a minimum period of 3 years and the person must not have been an employee or director of the company.
If I am right, only the conditions of company being unquoted trading and the individual not being an employee are met.
thank you I think you are right
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