Hello,
An elderly client who has held shares in one publicly listed company company for several decades, leading to a large paper gain, far in excess of CGT AEA. Is it possible to claim holdover relief if client were to gift the shares to the value of £3000 (annual IHT exemption) to their grandchild? This is not a PET, so I am not sure whether it would work.
Thank you in advance
Replies (4)
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I would guess shares to the value of £3,000 would be covered by CGT AEA, so maybe it doesn't matter that it doesn't work.
I'm not sure why it's not a PET and there's an old trick whereby the shares can be gifted in & out of a trust to get the CGT holdover relief.