dp Posted May 17, 2007 Share Posted May 17, 2007 HiYet another person completing the 1st Tax Return. Please can anyone tell me how I should handle this -Before I moved to France I received my free allocation of shares as I was a member in Standard Life. Since moving to France I have sold the shares and would like to know exactly how I document this transaction on my tax return (exactly which box/s to fill in).Cheers for any help.David Link to comment Share on other sites More sharing options...
Bluebells Posted May 17, 2007 Share Posted May 17, 2007 Asked same question on 2 forums, no answer, so have declared mine as pure interest, although I never received shares just a cheque for corresponding amount as I lived in France at the time, probably the wrong way to do it and the most expensive but at least the money was declared somewhere Link to comment Share on other sites More sharing options...
suein56 Posted May 17, 2007 Share Posted May 17, 2007 [quote user="dp"] Since moving to France I have sold the shares and would like to know exactly how I document this transaction on my tax return Cheers for any help.David [/quote]I am sure someone else will be along soon with chapter and verse but IMHO you don't need to put it down anywhere as you are allowed to sell up to 15 000 euros worth of shares per household year without charge. Beyond that you will pay capital gains on all of it. Sue Link to comment Share on other sites More sharing options...
LesLauriers Posted May 17, 2007 Share Posted May 17, 2007 I would agree with SPG, the shares were sold on your behalf and the proceeds obtained sent to you. Link to comment Share on other sites More sharing options...
dp Posted May 17, 2007 Author Share Posted May 17, 2007 Hi SueThanks for your reply. Do you know if this 15,000 limit is for Unit Trusts as well as this will affect me next year?David Link to comment Share on other sites More sharing options...
dp Posted May 18, 2007 Author Share Posted May 18, 2007 I forgot to ask : if I have less than the 15000 limit do I not need to enter anything on the tax form?David Link to comment Share on other sites More sharing options...
suein56 Posted May 18, 2007 Share Posted May 18, 2007 [quote user="dp"]I forgot to ask : if I have less than the 15000 limit do I not need to enter anything on the tax form?[/quote]You have to enter the dividends from shares as they are income, is that what you mean?Sue Link to comment Share on other sites More sharing options...
dp Posted May 18, 2007 Author Share Posted May 18, 2007 Hi SueI understand about the dividend but my questions were :Are unit trusts classed the same as shares with regard to reporting them on the tax return ?If I have not exceeded the 15000 limit do I need to put anything on that section of the return or just leave it blank ?Thanks for your help.RegardsDavid Link to comment Share on other sites More sharing options...
suein56 Posted May 18, 2007 Share Posted May 18, 2007 [quote user="dp"]If I have not exceeded the 15000 limit do I need to put anything on that section of the return or just leave it blank ?[/quote]Which section of the return is that? I am confused.AFAIK unit trusts are not allowable for tax deductions in the same manner as straightforward single company shares which have a 40% abattement. I put income from my peps, isas investments, which include unit trusts, in box TS on form 2042.Sue Link to comment Share on other sites More sharing options...
avinalarf Posted May 18, 2007 Share Posted May 18, 2007 I agree with Sue and IMHO the limit applies to unit trusts and similar investment vehicles. Link to comment Share on other sites More sharing options...
dp Posted May 18, 2007 Author Share Posted May 18, 2007 I do apologise if I am being confusing but it's my first return so my terminology may not be as good as it should be.What I wanted to know was if Unit Trusts are handled differently than normal shares. You have said yes so that answers that one.Also as I understand from the previous answers, if my share transactions (not profit) total less than 15000 Euros there is no tax to pay. What I wanted to know is, say for instance I have sold 5000 Euros of shares ( below the 15000 threshold), do I have to report this anywhere on the return ? Thanks again for your helpRegardsDavid Link to comment Share on other sites More sharing options...
suein56 Posted May 18, 2007 Share Posted May 18, 2007 [quote user="dp"]Also as I understand from the previous answers, if my share transactions (not profit) total less than 15000 Euros there is no tax to pay. What I wanted to know is, say for instance I have sold 5000 Euros of shares ( below the 15000 threshold), do I have to report this anywhere on the return ? [/quote]No, you don't.Sue Link to comment Share on other sites More sharing options...
suein56 Posted May 18, 2007 Share Posted May 18, 2007 [quote user="avinalarf"]IMHO the limit applies to unit trusts and similar investment vehicles. [/quote]I'm of a similar opinion and hoping this is correct as I want to sell some Investment trust shares later this year.Sue Link to comment Share on other sites More sharing options...
dp Posted May 18, 2007 Author Share Posted May 18, 2007 Hi SueOK that's clear - thanks for all your helpDavid Link to comment Share on other sites More sharing options...
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