Irish/euro share question
Discussion
My wife has been gifted some Kerrygold shares in her name by her family in Ireland. She has no Irish accounts and the share cert is in euros. The shares are at an all time high and we would like to sell. How can we go about this? does she need to open an account in Ireland or can we transfer the share cert to the UK. Thanks for your help sorry as I am a novice in this area.
I don't think any special procedures need to be carried out.
She sells her shares.
She receives payment from the buyer/broker.
The payment will be in Euros.
She will tell the seller/broker what bank account the sale proceeds should be transferred to.
The seller/broker transfers the money in Euros into the bank account.
The bank will automatically convert the Euro amount into a Sterling amount.
Theoretically, there could be a Capital Gains Tax issue arising but only if the Capital Gain exceeds the Capital Gains Tax personal allowance, which currently is 10,600.
She sells her shares.
She receives payment from the buyer/broker.
The payment will be in Euros.
She will tell the seller/broker what bank account the sale proceeds should be transferred to.
The seller/broker transfers the money in Euros into the bank account.
The bank will automatically convert the Euro amount into a Sterling amount.
Theoretically, there could be a Capital Gains Tax issue arising but only if the Capital Gain exceeds the Capital Gains Tax personal allowance, which currently is 10,600.
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