Financial advice.

[stonerblue]

Its not just about the lump sum tho..... SWP could probably advise better but it's also about when she cashes / if she cashes them in . You could do some on the 1st April which goes into one tax year and some on the 6th April which goes into another.... no one can really give proper advice without fully understanding her and her husbands circumstances.

Probs need to consult a financial advisor

From what i gather, the firm taking over want to buy all the employees shares

 

[aguero93:20]

From what i gather, the firm taking over want to buy all the employees shares

If it's a voluntary takeover they may well be willing to stagger the purchase over 2 tax years to benefit the sellers.

 

[SWP's back]

Many thanks.

was hoping you'd pop up. Can you tell me a bit more about the possible taxes she may have to pay on the lump sum if she just bangs it in the bank?

Hi mate, have a read of this link, she may have CGT applicable when she sells or disposed of her shares although if it was an employer share save scheme she may not.

https://www.gov.uk/tax-sell-shares

It depends on how her holding is structured. The tax is applicable whether she sells and puts it in the bank or any other investment (if it’s applicable at all).

 

[Brightwell’s left peg]

You’d actually be surprised.

Whilst I don't doubt the capabilities of a few on here to give sound financial advice...the odds of finding it amongst the many posts are slim...unless you already know what you're looking for, in which Case you probably don't need the advice.

I'm not criticizing the OP by the way. Bluemoon is a better place for these kinds of posts.

 

[stonerblue]

Hi mate, have a read of this link, she may have CGT applicable when she sells or disposed of her shares although if it was an employer share save scheme she may not.

https://www.gov.uk/tax-sell-shares

It depends on how her holding is structured. The tax is applicable whether she sells and puts it in the bank or any other investment (if it’s applicable at all).

Top man.

 

[SWP's back]

Whilst I don't doubt the capabilities of a few on here to give sound financial advice...the odds of finding it amongst the many posts are slim...unless you already know what you're looking for, in which Case you probably don't need the advice.

I'm not criticizing the OP by the way. Bluemoon is a better place for these kinds of posts.

Stoner is aware that at least two financial advisers are posting on the thread and who they are fella.

 

[Mazzarelli's Swiss Cheese]

Best thing we did when I got my lump sum from my private pension was to pay off the remaining mortgage.
Stress free after that.

Did you put a little to one side for a zimmer frame and some of those fur lined slippers with zips up the side oakie?

 

[oakiecokie]

Did you put a little to one side for a zimmer frame and some of those fur lined slippers with zips up the side oakie?

Plus a pipe and Liquorice Allsorts.

 

[aguero93:20]

Did you put a little to one side for a zimmer frame and some of those fur lined slippers with zips up the side oakie?

He's well past that point at this stage, he's saving up for his sarcophagus.

 

[Blue Mist]

On a serious note OP, various people have mentioned she may have to pay tax. I have ergh a friend who was in a business with his wife, brother and sister in law. When the business was sold he had to pay tax as he was doing yearly self assessment. His wife wasn't and as no one asked her for any money and as she wasn't doing self assessment...…… I understand it was the same for the brother and his wife.