Inherited £150k HSBA shares - CGT
Hi all!
Just need a sounding board, really.
Unfortunately, my grandmother died last year. She left me a considerable inheritance. And a part of that inheritance is just under £150k worth of HSBA shares (when she passed they were worth around £80k). I was pretty shocked when I had looked at the share price recently as I didn't think to look.
I haven't submitted a form of intention yet (waiting on another party's decision). I have just created a memorandum of appropriation with other beneficiaries as a way of using our own CGT allowances (£12k) instead of just the estates measly £3k.
I was thinking of selling 95% and transferring 5% into my name. My reasoning is keeping 150k in the same stock would make me feel uncomfortable - too risky.
Maybe it is silly transferring/keeping the 5%? I guess my reasoning for this is to defer the CGT to another tax year (and 5% is probably the amount I feel comfortable keeping in one stock).
I was thinking of adding an amount into my old workplace pension (maybe 20k - might reduce CGT a bit). Current workplace pension is with NEST (relief at source) so I don't want to add to that (funds are terrible).
Some more information about me... my salary is £40k per annum. I am 40 years old. Other inheritance assets are around £150k in life assurance bonds (already being sold). A flat that will have a CGT gain when sold, but I am not sure how much - maybe £25k for my share (hopefully will be sold next year). There is some cash too.
Anyways, does anyone have opinions on what I'm doing? Are there any better ideas? Curious to know what you guys think.