Capital gains tax

[Mick100]

Does anyone know if we have to pay capital gains tax on the shares, I've got the ones we were given and some through saye and brought some with talks of capital gains tax rates being lowered to as low as £ 2000

[RobertT]

According to the booklet we got when the company was privatised, if you hold the free shares for at least 3 years, no CGT is payable.

You may have to pay CGT on the shares you bought via SAYE, the EPO or via a stockbroker, etc.
But as the SAYE option(buying) price at the time was £3.60 per share, the EPO price was £3.30 per share and the market price is currently lower, If you sold today you obviously won't gain any capital let alone be over the yearly limit.

But CGT may be something to consider if the share price increases above those prices, or you bought at a lower price.

*I'm not sure whether CGT applies to shares bought via partnership and matching scheme.

[koolishy67]

CGT limit is I think£12000 per year if you are making profit More than that you need to pay

[RobertT]

The current yearly CGT limit is £12,300, which shouldn't be a problem for the average postie with a small holding of RM shares.

I personally haven't heard of any plans to reduce it to £2000, but the actual amount of CGT that's payable if you're liable to pay it, could change in the future. As could what is accessed for CGT: https://www.bbc.co.uk/news/business-54908037

[Celgar]

The rumour as regards capital gains tax and the Chancellor running out of money was that capital gains tax would be doubled or certainly increased. There wasn't any talk of a decrease in taxes.