Tax implications shares inheritance

[guerngirl]

Can you avoid capital gains tax on gains made on shares if you decide to give the shares to your child as part of an early inheritance?

For example, you bought 10 shares for €10000 and the shares doubled in value over a period of five years. They are now worth €20000.

Instead of selling the shares and having to pay CGT on the gain, can you give the €20000 worth of shares to your child as part of their inheritance (eg your child is 18, so this would be an early inheritance)?

Would the child then have no tax liability if they decided to sell the shares, effectively meaning they could sell all the shares and receive the full amount of €20000 without having a CGT liability to pay?

 

[T McGibney]

Can you avoid capital gains tax on gains made on shares if you decide to give the shares to your child as part of an early inheritance?

No.

A gift constitutes a disposal for CGT purposes. There is no such concept as "an early inheritance" in law.

 

[Protocol]

Think about it.

If this was possible, we would all be doing it.

CGT applies whether you sell or give the assets away.

There is one way to avoid CGT - there is no CGT at death.