How can I share my personal tax allowance?
The only way to do it wouldn’t be very sensible if you don’t have a legal spouse. Common-law relationships don’t have the same legal status. You would have to transfer your shares into your relative or friend’s name, and therefore lose any entitlement to them. Not likely with the current state of the stock market, but there may be Capital Gains Tax liability, as with the transfer of assets, even if no money changes hands, the market value decides any tax liability. If you decided to transfer shares into parent’s names, you should consider if this will affect any Inheritance Tax liability at their deaths. I would suggest you contact a financial advisor, to see if anything can be done with a trust. NB: the answer re capital growth. Script shares also attract tax liability for Higher Rate tax purposes.
