Share Questions and tax implications

[cunningm]

I am part of a Employee Stock Purchase scheme at work and for the past two years we have been locked in at a very good price meaning from my investment i can make £300-£400 per month profit after tax.

I also have some options that have been vesting for the past 10 years and am thinking of selling these but was not sure of the tax implications of doing so.

If i assume i have made £4500 in profit on the shares this tax year i have purchased through the ESPP scheme (and paid tax and NI on this already) if i sell options that take me over the 10k Capital Gains Tax threshold does the ESPP money come into this equation as i have already paid tax on these?

thanks

[Lujan82]

Do you actually own the shares now, or do you merely have an option to buy the shares at a specific price in the future?

CGT only becomes due when you go to sell the shares at a profit on the purchase price.

[cunningm]

I do not own the shares currently, but would do an exercise and sell in the same day which i would expect to pay tax on the gain over the option price, but worried that the combined ESPP and options sells in one tax year would result in double tax.

As i have already paid tax on the profit of the ESPP shares and would also pay tax on the options i sell, i am unsure if this profit would be exempt from CGT as i have paid tax on any profits already.