Accidental £100k Investor: Ignorance of Tax Isn’t Bliss

Friend at a major bank, 25 years in the same low-level admin job, never ambitious, just stability. Quietly drip-fed into the staff share scheme since the start. Result: over £100k in shares.

When I asked about tax on dividends and capital gains, he flatly said he doesn’t need to. His logic: “That’s for millionaires, not me.”

This is wrong. HMRC doesn’t care if you’re on a low wage dividends and gains are taxable once you pass the allowances.

I’m worried he’ll get burned for ignorance. What exactly should he be doing so I can point him to the right path before it catches up with him?