Quote Originally Posted by gill@myafricansky.co.za View Post
Hello all. I am also new to the forum and trying to source crucial information without the cost of lawyers and accountants due to financial constraints. I am selling my shares to my partner (we have an agreement in place and are both happy with the status quo). What is unclear and I have been unable to find out via my usual 'Google' attempts is what needs to happen on the SARS side, especially with respect to VAT. I assume I don't need to re-register for VAT (correct me if I am wrong), but presume there must be some steps/hoops to go jump through. Any advise would be very helpful.
Selling your part of the shares in your personal capacity has no VAT implications. The company is probably the VAT vendor, not you.
You will however most likely make a profit on these shares if the price you get is higher than what you originally bought them for or regsitered them at. This profit is a capital gain and must be declared in your annual tax return.