Gifting stocks to other account holders

Would it be possible to implement a gift system? Say I want to gift a user stocks, I could purchase them and then they would be added to their account. Meant this for Invest accounts obviously.

My birthday was last week, its never too late :grinning:

I don’t see this being put on the development list, but interesting suggestion. I can almost type the generic response you will get but lets see what the staff say :smiley:

I don’t think this work for tax reasons. An example is I could buy some stocks and make an unrealised profit then send them to a friend to sell to avoid capital gains tax.

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We plan to offer the option to gift shares to other account holders, but this won’t happen in the foreseeable future.

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You would effectively crystallise your unrealised gain at the point of transfer and so would be taxed on that. Otherwise people would transfer shares all the time to avoid tax.

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Yes that would be how it would have to work. So a sell order of the stock in one account and a buy in the other account automated, seems difficult to do. I was just reading though that gifts to your spouse are tax free… I wonder how that would work since capital gains only due when the spouse sells. Scenarios:

Gift to random person - press “gift shares” - “is it spouse? Y/n” - “no” - sell shares - capital gains/loss, buy activated for shares for random person.

Gift to spouse - press “gift shares” - " is it spouse? y/n" - if yes then don’t sell shares?? - send to spouse account somehow. - spouse disposes at later date - capital gains tax from when first bought.

I was imagined something like this, basically the same way the free promotion works, so that you make the buy order on your account but the stocks get deposited on another. I did not mean sending shares you already hold.

hi yes I think you mean activating a buy in your account and the shares appearing in someone else’s account but this is probably more difficult if not impossible to implement and I’ve never heard of this being done before so my assumption was you would have to actually buy them yourself then they are transferred (gifted) to the other person which now I read about it is a normal common service that brokers do offer.