The new capital gains tax has been a hot topic in accounting firms since it took effect — for good reason: it changes the picture for any director considering selling shares, passing on a company, or restructuring shareholding.
The principle in one sentence
Capital gains realised on the sale of shares are now taxable, whereas they were historically exempt as part of normal private wealth management. The rate and exemption mechanisms vary depending on the director's situation and the holding structure.
What actually changes
- Selling own shares: an operation that used to carry no direct tax impact can now trigger tax on the capital gain realised.
- Special cases: circulars published throughout the year have clarified specific situations (divorce, civil company, family shareholding), with rules that aren't always intuitive.
- Planning ahead: the company's valuation at the time of sale, the holding structure (individual, holding company) and the timing of the operation all directly impact the tax bill.
Why now is the right time to review your situation
A tax reform of this scale is rarely fully understood from a single article — implementing circulars keep clarifying grey areas month after month. If you're considering a sale, a transfer or a restructuring in the coming years, the most useful move is to discuss it with your accountant well in advance, not at the moment of signing.
At AgiFid, that kind of planning is part of the work we do with every client from onboarding onwards: a tax strategy tailored to your situation, not a generic answer.
Key takeaway
The capital gains tax doesn't just concern large shareholders: as soon as a company changes hands, even partially, the question arises. Better to plan for it than discover it at the moment of sale.