The Lemon Fool

scrumpyjack wrote:Well there is one way to reset 'cost' to current value - die! Then the acquisition cost in your estate is the probate value

Suppose it's a matter of how desperate you are to minimise tax

Perhaps a little extreme

While I expect to eventually leave much of my portfolio to my girl, I think she'd rather I hang around a bit longer. At least I hope she thinks that!

cheers
Spiderbill

Alaric wrote:Partial sales are possible, just sell enough each year to utilise the CGT allowance. There are likely to be interactions between Canadian ? witholding tax and UK dividend tax so one may offset the other to an extent.

Yes I suppose I should think of it as top-slicing. I could get the holding down to roughly the level of my 3rd to 6th holdings in 3 years, which be be a better balance as it's been an outlier for a long time.

Getting the hang of the switch from accumulating to spending can be tricky, and thinking sensibly about taxes is part of that. Especially with a government that seems determined to change the rules all the time!

cheers
Spiderbill

spiderbill wrote:

scrumpyjack wrote:Well there is one way to reset 'cost' to current value - die! Then the acquisition cost in your estate is the probate value

Suppose it's a matter of how desperate you are to minimise tax

Perhaps a little extreme

While I expect to eventually leave much of my portfolio to my girl, I think she'd rather I hang around a bit longer. At least I hope she thinks that!

Depends on the IHT situation surely? Paying 10% or 20% CGT, even if on the entire value, is a lot better than paying 40% IHT.

By selling and paying the CGT, you can gift the cash and potentially avoid IHT altogether. Or gift the shares of course.