Any tax experts?? CGT generic question

[Kilted Ginger]

Hi i know a bike forum is a strange place to ask but here goes.

With regard to calculating CGT liability when selling shares. If you exercised an option in a company SAYE scheme before 10th April 2003 is the cost of the shares?
1. the market value of the shares at the time you exercise the option
2. The option price that you payed for the shares

I've waided through the tax web pages and called the company share scheme administartors both with limited success.

[Nekkid]

Howdy.

It's been a while, but I think I'm right in saying it's the amount you actually paid for the shares. This may include both the cost of the options (if you had to pay for them) and the 'strike price' which is the extra money you had to cough up to get your mits on the shares.

Check out the allowance as well, I think it's about 4k a year.

[GregK2]

Number 2, the option price (at least it is for my company save as you earn scheme).

CGT annual allowance for current tax year is £8800.